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Transglobe Energy Corporation Provides Mid-Quarter Update For Q4 2008 in Egypt

Source: www.oilegypt.com 12/16/2008, Location: Africa

TransGlobe is very pleased with recent developments in its Egyptian operations. The Company has drilled four oil wells to date this quarter (one exploration discovery and three development wells). The Hana #18 exploration well found a multi-zone oil pool. The well is expected to test at a combined rate of approximately 2,900 barrels of oil per day ("Bopd"). The new pool and all future appraisal and development wells will be named "Hana West". Indications to date are that this well, and the planned follow-up wells, will add significantly to TransGlobe's reserves and daily oil production.

Testing of Hana #18 commenced with the lowermost zone on November 20th. The lower pools (Zones #4 and #5) were suspended after testing at a combined rate of over 1,280 Bopd (see table below). The final tests in Zone #1, #2 and #3 are expected to increase the total combined rate to approximately 2,900 Bopd. The Hana #18 well is expected to be placed on permanent production by year-end at a pump-limited rate of 830+ Bopd from Zone #1. Larger pumping equipment is being sourced to increase the production rate to 1,500+ Bopd from Zone #1 in this well.

The Company is evaluating higher-rate pumping alternatives to increase production from the Hana West development wells. Additional development wells will be required to produce all five zones concurrently. The Hana #18 well was connected by pipeline to the Hana production facility prior to testing and all test production is being sold.

To date, the following production tests have been conducted on the Hana #18 discovery well, with Test #3 scheduled to commence this week followed by Test #4 late next week:
Drilling has commenced on an appraisal well at Hana West #2, with the second rig scheduled to move to the next appraisal well at Hana West #3 following the East Hoshia #2 exploration well. The East Hoshia #2 exploration well is targeting a deeper (9,000+ ft) multi-zone exploration prospect.
- Well sites are being constructed for appraisal/development wells at Hana West #4 and Hana West #5.

- TransGlobe has completed a 360+ km2 3-D seismic acquisition program covering the East Hoshia, Hoshia, North Hoshia, Arta and East Arta development areas. The processed data will be available for interpretation and mapping by year-end.

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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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