ADI 0.67% $2.95 apn industria reit

empyrean update

  1. 689 Posts.
    lightbulb Created with Sketch. 7
    Doesnt sound that good...more problems!

    Sugarloaf Block A, Onshore Texas, USA
    -------------------------------------

    The TCEI JV Block A-1 Well has now had 41/2" casing run that ties the 41/2"
    liner in the horizontal section of the well all the way back to the surface.

    An attempt to fracture stimulate the first interval has resulted in the frac
    sand unable to be pumped even with high pressures (12,000 psi). Initial analysis
    suspects poor contact between the casing holes and the reservoir, as this zone
    in the reservoir was trying to flow whilst it was being drilled indicating good
    permeability. The operator is conducting an analysis of this with a possible
    remedy of bringing in a higher calibre perforating gun to gain better contact
    with the reservoir.

    Empyrean has a 7.5% working interest in this well. A further update will be
    given as significant developments occur.

    The TCEI JV Block A-2 Well is still planned to be used to monitor the fracture
    stimulation of the TCEI JV Block A-1 Well, above, following which it will be
    completed for production testing itself.

    Empyrean has a 7.5% working interest in this well. A further update will be
    provided as significant developments occur.

    he TCEI JV Block A-3 Well has had a workover rig arrive on site and currently
    there is 7' casing to a depth of 12,272', then a 61/8" open hole to Total Depth at
    15,100'. This open hole section of the well was trying to flow whilst being
    drilled and is therefore the focus of testing operations on this well. A packer
    has been set at 11,507' with 27/8" tubing run back to the surface. The open hole
    still has 15.9+/- ppg drilling fluids in it. Present operations are the pulling
    of the packer at 11,507' following which the drilling fluids will be cleaned out
    of the open hole for an open hole flow test.

    As mentioned previously, following the open hole test, fracture stimulation may
    be required depending upon flow rates from the open hole test.

    Empyrean has a 7.5% working interest in this well. A further update will be
    provided as significant developments occur.

    Sugarloaf Block B, Texas, USA
    -----------------------------

    The Sugarloaf-1 Well is currently shut-in awaiting the results of Block A well
    testing before the operator concludes plans for completion and testing of the
    zones of interest.

    Empyrean has a 6.0% working interest in this well. A further update will be
    provided as significant developments occur.

    The Kennedy-1H Well has had 41/2" liner run from Total Depth back to the
    surface. The operator is awaiting the results of Block A well testing before
    finalizing completion and testing operations on this well.

    Empyrean has an 18.0% working interest in this well. A further update will be
    provided as significant developments occur.
 
watchlist Created with Sketch. Add ADI (ASX) to my watchlist
(20min delay)
Last
$2.95
Change
-0.020(0.67%)
Mkt cap ! $562.6M
Open High Low Value Volume
$2.97 $2.98 $2.95 $516.9K 174.3K

Buyers (Bids)

No. Vol. Price($)
5 41831 $2.95
 

Sellers (Offers)

Price($) Vol. No.
$2.96 8558 1
View Market Depth
Last trade - 16.10pm 10/12/2019 (20 minute delay) ?
(live)
Last
$2.95
  Change
-0.020 ( 0.51 %)
Open High Low Volume
$2.97 $2.97 $2.95 25969
Last updated 15.59pm 10/12/2019 (live) ?
ADI (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.