Business
Update on Romania Well Flow Test Operations
Update on Romania Well Flow Test Operations.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 5493T\n Reabold Resources PLC\n 21 July 2020\n \n \n \n \n 21 July 2020\n \n \n \n \n \n Reabold Resources plc\n \n \n \n (\"Reabold\" or the \"Company\")\n \n \n Update on Romania Well Flow Test Operations \n \n \n \n \n \n Reabold, the AIM investing company which focuses on investments in upstream oil and gas projects, provides an update on well flow test operations at the Iecea Mica-1 (\"IMIC-1\") well in Romania as part of the 2020 work programme (the \"Work Programme\"). \n \n \n \n \n \n The Work Programme is being carried out by Danube Petroleum Limited (\"Danube\"), which has a 100 per cent. interest in the Parta Sole Risk Area and will, on completion of the farmout to Tamaska Oil & Gas (see Reabold's announcement of 8 April 2019) have a 50 per cent. interest in the Parta Exploration Licence. \n \n \n \n \n \n Reabold holds a 50.8 per cent. equity interest in Danube. ADX Energy Ltd (\"ADX\") is the operator of IMIC-1.\n \n \n \n \n \n \n Highlights\n \n \n :\n \n \n \n \n \n \n ·\n Remobilisation of wireline crew and further diagnosis work including down hole pressure measurement and sampling of reservoir fluids using wireline planned for 27 July 2020 \n \n \n \n \n \n · \n Down hole fluid sampling recovered methane gas and drilling fluids from reservoir \n \n \n \n \n \n ·\n Pressure build up at surface indicates gradual influx of the gas from the reservoir resulting in pressure at the well head increasing from 780 psi to 1650 psi \n \n \n \n \n \n · \n Acidisation equipment sourced to stimulate the well in order to create a flow path for gas from the reservoir to the wellbore:\n \n \n \n \n \n o \n Detailed rock typing has identified calcite and siderite cement in the reservoir which otherwise has excellent parameters with matrix porosity at just over 20 per cent. \n \n \n \n \n \n o \n Acidisation can dissolve over 20 per cent. of the cement and is commonly used in such reservoirs in Western Romania\n \n \n \n \n \n Further to the announcement made on 2 July 2020, Reabold announces that the reinstatement of COVID-19 quarantine requirements (the \"Requirements\") in Romania has caused a short delay to the ongoing well flow testing programmes at the IMIC-1 well site onshore Romania. The Hungar...