Ascent Reports Successful Flow Test at Pg-10 in Petisovci Project

Source: www.gulfoilandgas.com 1/30/2017, Location: Europe

The Board of Ascent is delighted to report that the flow test at Pg-10 has been successfully completed and the results have exceeded management's expectations. The maximum stabilised flow rate was 8.8 million standard cubic feet of gas per day (MMscfd) which is in line with the rates measured when the well was initially tested for a short period in 2011 and is significantly above the minimum commitments required under the gas sales agreement with INA.

Over the course of the past three days we have carried out a series of tests which will significantly increase our understanding of the well and the gas reservoirs.

Well Pg10 is a vertical well with an 'S' deviation, which was drilled to a total depth of 3,497 metres. The well targets the 'F' sand at 3,125 to 3,175 metres. The stabilised flow rate achieved on a 12mm choke was 249,064 cubic metres per day or 8.8 MMscfd per day. Over the course of the 56 hour test the well was open for a total of 37 hours. The well produced total gas of 295,387 cubic metres (10,431,595 cubic feet) along with 28,250 litres of water and 2,930 litres of condensate. The average flowing well head pressure was 271 barg (3,930 psi absolute).

Colin Hutchinson, CEO, commented:

"We are extremely pleased with the results from the Pg-10 test and we look forward to bringing gas to market in the near future."


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