Perth, July 4, 2008 (ABN Newswire) - Joint venture partners Otto Energy (ASX:OEL)(PINK:OTTEF) and Incremental Petroleum (ASX:IPM) announce that the Arpaci 2A appraisal well has encountered three potential gas bearing intervals between 160 metres (m) and 350 m.
Arpaci 2A reached total depth of 525 m and preliminary wireline log analyses indicate approximately 20 m net gas bearing reservoir sands. Currently the well is being prepared for flow testing the lowermost interval from 340 m to 348 m, which is expected to commence shortly.
The attached release from the Joint Operator Incremental Petroleum provides more information on the Arpaci 2A.
The partners in the Edirne Gas project are Otto Energy 35%, and Joint Operators Incremental Petroleum 55% and Turkish partner Petraco 10%.
Incremental encounters three potential gas zones in Arpaci 2A
Incremental Petroleum (ASX: IPM) and Otto Energy (ASX: OEL) are pleased to announce that Arpaci 2A, the last well in the 2008 drilling campaign in the Edirne licence , has encountered three potential gas bearing intervals between 160 m and 350 m. Preliminary wireline log analyses indicate approximately 20 m net gas bearing reservoir sands.
Preparation for the assessing of the gas productivity of the lowermost interval from 340 m to 348 m is ongoing - the well will be flow tested shortly.
Arpaci 2A is 30m offset from Arpaci 2, and reached a total depth of 525 m without incident. The well drilled through the same shallow gas sands encountered in Arpaci 2 along with two deeper gas bearing zones.
The completion of Arpaci 2A will finalise the very successful 2008 drilling campaign, with four gas discoveries from four wells. The evaluation of the surface facility design and assessment of bidders for construction is continuing, with planned first gas production by mid 2009.
The partners in the Edirne Gas project are Incremental Petroleum (55%), Otto Energy (35%) and Petraco Energy (10%), who are also joint operator, with Incremental.
Arpaci 2A reached total depth of 525 m and preliminary wireline log analyses indicate approximately 20 m net gas bearing reservoir sands. Currently the well is being prepared for flow testing the lowermost interval from 340 m to 348 m, which is expected to commence shortly.
The attached release from the Joint Operator Incremental Petroleum provides more information on the Arpaci 2A.
The partners in the Edirne Gas project are Otto Energy 35%, and Joint Operators Incremental Petroleum 55% and Turkish partner Petraco 10%.
Incremental encounters three potential gas zones in Arpaci 2A
Incremental Petroleum (ASX: IPM) and Otto Energy (ASX: OEL) are pleased to announce that Arpaci 2A, the last well in the 2008 drilling campaign in the Edirne licence , has encountered three potential gas bearing intervals between 160 m and 350 m. Preliminary wireline log analyses indicate approximately 20 m net gas bearing reservoir sands.
Preparation for the assessing of the gas productivity of the lowermost interval from 340 m to 348 m is ongoing - the well will be flow tested shortly.
Arpaci 2A is 30m offset from Arpaci 2, and reached a total depth of 525 m without incident. The well drilled through the same shallow gas sands encountered in Arpaci 2 along with two deeper gas bearing zones.
The completion of Arpaci 2A will finalise the very successful 2008 drilling campaign, with four gas discoveries from four wells. The evaluation of the surface facility design and assessment of bidders for construction is continuing, with planned first gas production by mid 2009.
The partners in the Edirne Gas project are Incremental Petroleum (55%), Otto Energy (35%) and Petraco Energy (10%), who are also joint operator, with Incremental.
| Tweet |
About Otto Energy
Based in West Perth, Otto Energy Limited (ASX: OEL) is an international exploration and production company that has assembled a balanced portfolio of oil and gas assets in the Philippines, Turkey, Italy and Argentina.
As of mid 2008, Otto expects to receive revenue from production at the Galoc Oil Field in the Philippines which will be used to fund further development and exploration across all of the Company’s highly prospective assets. Otto is opportunity rich with an exploration portfolio that includes additional discoveries that are under development, approximately 20 drillable prospects covered by new 3D seismic and well over 60 exploration leads which are being matured as follow-up potential. Consequently, Otto has an active exploration and appraisal drilling program in 2008/2009.
|
||
|
 |
Related Companies |
>>>        Incremental Petroleum Limited>>>  Otto Energy |
| |
Related Industry Topics: |
Gas & Oil | Energy General | |
| |
This Page Viewed: (Last 7 Days: 80) (Last 30 Days: 410) (Since Published: 25530) |
Events & Exhibitions
|
Site Search
| ENGLISH All Languages |
Upcoming WebCasts
 | Mr Mark Paton CEO Cue Energy Resources Tuesday, June 12, 2012 |
 | Mr Alan Hopkins CEO Pan Asia Corporation Tuesday, June 12, 2012 |
 | Mr Barry Dawes Martin Place Securities Tuesday, June 12, 2012 |
 | Dr Andrea Grant CEO Living Cell Technologies Monday, July 02, 2012 |
|
Otto Energy | ||||||
|
|||||||
Companies in the News
Mobile Video TV
|
||
|
||
