EXR 0.00% 4.2¢ elixir energy limited

announcement pompano project.

  1. RKS
    573 Posts.
    Elixir Petroleum Limited ("Elixir" or "the Company") is pleased to provide an update on activities at the Pompano Project.

    Since our last announcement on 12 February 2008, Well 103229#1 ("Well #1") has been successfully flow tested across the three gas bearing zones encountered in the well. Multi-rate flow tests were undertaken for a period of at least 12 hours over each zone. The final flow test readings for each sand prior to Well #1 being closed in were as follows:

    6700A Sand

    Formation Top: 6,420 feet
    Gross Sand Interval: 15 feet
    Final Flow Rate: 1.501 million cubic feet of gas per day on a 12/64" choke

    A Sand

    Formation Top: 6,639 feet
    Gross Sand Interval: 7 feet
    Final Flow Rate: 1.430 million cubic feet of gas per day on a 12/64" choke.

    B Sand – Main Objective

    Formation Top: 6,738 feet
    Gross Sand Interval: 72 feet
    Final Flow Rate: 5.342 million cubic feet of gas per day on a 26/64" choke.

    Well #1 has been completed using a dual completion string, which will allow two sand intervals to be produced simultaneously. We are advised by the operator, AnaTexas Offshore Inc., that the 6700A sand and the B sand will be placed into production as soon as the platform retrofit is completed. These two sands are expected to produce at a combined initial rate of 6 – 7 million cubic feet of gas per day.
    The Operator has also reported that work is now underway retrofitting and refurbishing the "A" Production Platform (see schematic below). Flowline testing activities are expected to commence at the "B" caisson location once the rig is released from the Well #1 operations. The drilling rig is expected to jack down and move to the next well location in the coming days, subject to weather conditions.

    Following the completion of the flowline testing activities, an anticipated first production date for Well #1 will be advised.
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