Business
Mobilisation of Well Testing / Completion Rig
Mobilisation of Well Testing / Completion Rig.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7927T Echo Energy PLC 06 July 2018 \n\n6 July 2018\nEcho Energy plc\n(\"Echo\" or the \"Company\")\n \nMobilisation of Well Testing / Completion Rig \n \nEcho Energy plc, the Latin American focused upstream oil and gas company, is pleased to announce that mobilisation of the Quintana 01 testing / completion rig to the Fracción C, Fracción D and LLC assets (onshore Argentina and operated by Compañía General de Combustibles S.A. (\"CGC\") in joint venture with Echo) is scheduled to commence during the week commencing 8 July 2018.\n \nMobilisation is anticipated to take approximately 5 days and the rig will be moving firstly to the ELM-1004 well, which was suspended for testing in May 2018. Testing of ELM-1004 is anticipated to take 2-3 weeks, following which the rig will move on to test the remaining three wells in the current four well exploration programme. \n \nThe Company is yet to determine the order in which the remaining three wells will be tested as the test design for the recent EMS-1001 well, which will include the running of cased hole logs prior to testing, is currently being prepared in conjunction with external experts to optimise the data evaluation. As a result, the position of the EMS-1001 well test within the overall testing programme is yet to be determined and is dependent on finalisation of that design.\n \nAdditionally, and whilst the rig is on contract, the Company and CGC are considering the completion of a number of additional well interventions and workovers both in Estancia La Maggie (within Fracción C) and Fracción D to either restore or increase well productivity from existing wells. \n \nThe Company will update shareholders with progress on both the testing and workover activities as the programme advances.\n \n \nFor further information please contact:\n \n\n\n\nEcho Energy plc\nFiona MacAulay, CEO\n \n\n\n \[email protected]\n \n\n\n\n\nSmith & Williamson (Nominated Adviser)\nDavid Jones\nBen Jeynes\nKaty Birkin\n \n\n\n+44 (0)20 7131 4000\n\n\n\n\nHannam & Partners (Joint Corporate Broker)\nGiles Fitzpatrick\nAndrew Chubb\nErnest Bell\n \n\n\n+44 (0)20 7907 8500\n \n\n\n\n\nShore Capital (Joint Corporate Broker)\nJerry Keen\n \n\n\n+44 (0)20 7408 4090\...