PCL 11.1% 0.8¢ pancontinental energy nl

Black Gold!

  1. 2,070 Posts.
    Loss of 280,000 barrels of drilling fluid is apparently a sign of good ultimate flow characteristics. The possibility of a common oil pool is also good news - two paths to black gold!

    From the Crown Minerals site :

    21 August, 2002 Extended production testing of the Huinga-1B well in onshore Taranaki licence PEP 38716 is about to start.

    Permit operator Marabella Enterprises Ltd reports that surface production equipment has been installed and preparations are underway for the extended testing of the Huinga-1B sidetrack well, east of Stratford.

    Fellow Huinga partner Indo Pacific Energy says the testing programme may last at least two weeks.

    Well clean-up is scheduled to take up to five days as over 280,000 barrels of drilling fluids and circulation material were lost, much of that into the Murihiku Supergroup basement thrust, during drilling last month.

    The well clean-up is to be followed by the testing of two zones within the Murihiku basement thrust and the prospective Tertiary Kapuni section. The Murihiku interval, between 4250 m and 4273 m, and the Kapuni interval, between 4375 m and 4397 m, will be tested separately.

    Indo Pacific said it would take some time to achieve clean, stabilised oil and gas flow rates, and that the initial testing programme was designed to provide information on formation pressures, well productivity and minimum reserve estimates.

    It was possible that the two test zones intersected the same oil pool, Indo Pacific said.

    All oil produced during testing at Huinga will be on-sold, initially under a common marketing arrangement of the PEP 38716 joint venture. It is planned to continue oil production from one or both zones, depending on the initial test results.

    Bligh Oil and Minerals NL has a 24.8 % interest in PEP38716, through its wholly-owned subsidiary Marabella Enterprises.

    Other participants in the well and permit are: Preussag Energie GmbH (24%), Swift Energy NZ Ltd (15%), AWE New Zealand Pty Ltd (12.5%), Indo-Pacific Energy Ltd (7.3%), Pancontinental Oil & Gas NL (6.6%), PEP38716 Ltd (5%) and Springfield Oil and Gas Ltd (4.8%).

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