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NG Energy Conducted Study of the Prospective Resources Based on a P50 Level Could Reach 200 BCF in Maria Conchita and Will Re-enter Instanbul-1 Well in February 2021
NG Energy Conducted Study of the Prospective Resources Based on a P50 Level Could Reach 2...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG Energy Conducted Study of the Prospective Resources Based on a P50 Level Could Reach 200 BCF in Maria Conchita and Will Re-enter Instanbul-1 Well in February 2021\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 11, 2021\n \n /CNW/ - NG Energy International Corp. (the \"\n \n Company\n \n \" or \"\n \n NGE\n \n \") (TSXV: GASX) (OTC: GASXF) NGE's technical team and external consultants recently finalized a study to evaluate the formations in the Maria Conchita field as a whole. This study is based on the results obtained from the re-entry of Archura-1. The geophysics and petrophysics reinterpretation of the area was focused to determine the resources associated with the different prospective areas that existed and the new areas of the field, with the objective of establishing new locations to be drilled to develop the field and the feasibility of re-entering the existing wells, mainly\n \n Istanbul\n \n -1, which was drilled in 2018, and Tinka 1, drilled in 1988 and which tested up to 3 MMSCFD.\n \n \n The studies performed in identifying new zones of possible accumulations in the limestone of the Tinka area and the sandstones of the\n \n Istanbul\n \n -1, Aruchara-1 and Tinka 1 area, led to the determination, according to the management estimates, that new prospective resources might exist based on a P50 level could reach a global total of 200 BCF, including the current certified reserves value (34,6 BCF). This study has identified five new possible locations to be drilled for the field development and the benefits to re-enter\n \n Istanbul\n \n -1 and Tinka 1.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Based on the study and the evaluation of the formation around the\n \n Istanbul\n \n -1 well the Company has determined to re-enter it as the second well to be rehabilitated on the Maria Conchita Block beginning in the second week of February, previous process with national authorities.  After recently completing a re-entry of the Aruchara-1 well to repair a gas lea...