The operator of the El Bibane field Candax Energy Inc. has announced that the work-over operations to re-start production from the El Bibane field, were PA Resources AB holds a 25% interest, have been unsuccessful and that a new development program has been launched. The net production consequences to PA Resources will be a loss less than 200 bbls of oil per day until the well is forecasted to be back in production by Q106.
The operator Candax announced that they will re complete the EL Bibane 3 well with artificial gas lift which then will secure restart of the well. The development of the new well, El Bibane 5 will also be completed by artificial lift. Candax also announced that a rig to drill the new development well and re complete the El Bibane 3 has been secured. With 2 well in production Candax forecast a total production by Q106 of in the order of 1500 - 2000 bbls of oil per day. With two well in production net to PA Resources will be 375 - 500 bbls of oil per day.