Gulf Oil and Gas accountACCOUNT

Verenex announces final flow test results at its first oil discovery in Libya

Source: www.gulfoilandgas.com 4/25/2007, Location: Africa

The Company has completed extended flow testing and analysis at its first light sweet crude oil discovery well in Libya, A1-47/02 in Area 47 in the Ghadames Basin, which was announced by the Company and the Libyan National Oil Corporation ("NOC") as an oil discovery on February 6, 2007. At the time of the announcement, only one flow test of 5,172 barrels of oil per day (gross) through a 48/64ths inch choke had been completed on the first perforated interval in the Lower Acacus Formation.

Extended flow tests and pressure build-up analyses were ultimately completed on three intervals in the Lower Acacus Formation. These tests yielded a combined maximum measured flow rate, as restricted by test equipment capability, of approximately 12,500 barrels of oil per day (gross) from 174 feet of perforations through choke sizes on particular intervals ranging from 40/64ths to 128/64ths inch.

The well has been suspended as a potential future oil production well.

"We are very pleased with the results from the flow testing program at the A1-47/02 well, confirming it as an outstanding oil well and providing important reservoir parameters and fluid properties for resource assessments and future development planning," said Jim McFarland, President and CEO of Verenex Energy Inc. "A successful light sweet crude oil discovery on our first well is an excellent result for Libya and a great start to our exploration drilling program in Area 47. The initial success at A1-47/02 reinforces our strategy to ramp-up to two drilling rigs in the third quarter and drill up to six wells in 2007. Beyond 2007, we have considerable running-room for our exploration and appraisal drilling program with more than 45 prospects and leads identified to date in Area 47," he said.

Exploration News in Libya >>

Guyana >>  4/18/2019 - ExxonMobil made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to ...
United Kingdom >>  4/9/2019 - AIM-listed Egdon Resources has announced the results of a Competent Person's Report ('CPR') prepared by Schlumberger Oilfield UK in relation to the Re...

Australia >>  4/8/2019 - Carnarvon Petroleum and its Joint Venture partner and Operator, Santos, have moved quickly to appraise the Dorado discovery made in the third quarter ...
Oman >>  4/8/2019 - Total and the Ministry of Oil and Gas of the Sultanate of Oman (MOG) have signed a Heads of Agreement (HoA) for the award to Total of an exploration l...

Egypt >>  4/7/2019 - Minister of Petroleum and Mineral Resources Tarek el Mullah conferred with his Saudi counterpart Khaled el Faleh on means of boosting joint cooperatio...
Lebanon >>  4/5/2019 - The Lebanese government has approved the opening of the country’s much-anticipated 2nd offshore licensing round. Interested companies will be expected...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Libya Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 |

Oil & Gas Projects in Libya >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.