Egyptian Oil Flows From EPT in Excess of 2500 Barrels Per Day
Adelaide, Aug 3, 2012 AEST (ABN Newswire) - Beach Energy Limited (
ASX:BPT) advises that the extended production tests (EPT), on its four successful wells in the Abu Sennan concession (Beach 22%) in Egypt's Western Desert, have commenced. The four wells, Al Ahmadi-1, GPZZ-4, Al Jahraa-1 and El Salmiya-1 flowed oil, gas and condensate during drill stem tests from various intervals, including the Abu Roash C, E, and G members and the Bahariya Formation. The combined maximum production rate achieved to date from the EPT was 2,524 barrels of oil per day, with associated gas.
The EPT is planned to continue for 6 months, which will enable the volume of hydrocarbons in place to be estimated. The EPT will also provide the basis for a development plan that will focus on the effective recovery of hydrocarbons within the various reservoirs.
A further three exploration wells have been approved by the Abu Sennan Joint Venture. The first of these wells, ASA-1X, spudded on 1 August 2012 and is targeting the GP-ZZ trend to the North East.
The Joint Venture equity interests in Abu Sennan are:
Beach (via wholly owned subsidiary Beach Petroleum (Egypt) Limited) - 22%
Kuwait Energy PLC - 50% and operator
Dover Investments Limited - 28%
Contact
Beach Energy Limited
T: +61-8-8338-2833
F: +61-8-8338-2336
WWW: www.beachenergy.com.au
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