Energean Oil & Gas PLC Epsilon First Oil (3577V)
08 April 2019 - 4:00PM
UK Regulatory
TIDMENOG
RNS Number : 3577V
Energean Oil & Gas PLC
08 April 2019
Energean Oil & Gas plc
("Energean" or the "Company")
Epsilon First Oil
London, 8 April 2019 - Energean Oil and Gas plc (LSE: ENOG,
TASE: ), the oil and gas producer focused on the Mediterranean, is
pleased to announce successful completion of drilling operations of
the extended reach well, EA-H3. The well was brought into
production on 1 April and is currently producing at a stable dry
oil rate of more than 1,000 bopd on a restricted choke.
The well was drilled to a total measured depth of 5,679 meters
and has penetrated 689 meters of the Epsilon sandstone reservoir,
in line with pre-drill expectations. Energean will continue to
monitor and fine-tune production parameters to ensure optimal
production from the well.
The EA-H3 well was drilled using the Company-owned drilling rig,
the 'Energean Force'.
Enquiries
Energean Tel: 07917 608645
Kate Sloan, Head of IR
Camarco (Financial PR) Tel: 020 3757 4980
Billy Clegg, Owen Roberts
About Energean Oil & Gas plc
Energean is a London Premium Listed FTSE 250 and Tel Aviv Listed
E&P company with operations offshore Israel, Greece and the
Adriatic. Energean has 349 mmboe of 2P reserves and 48 mmboe of 2C
resources across its portfolio.
In August 2017 the Company received Israeli Governmental
approval for the FDP for its Karish-Tanin gas development project,
where it intends to use an FPSO and produce first gas in 2021.
Energean has already signed contracts for 4.6 bcma of gas sales
into the Israeli domestic market. Future gas sales agreements will
focus on both the growing Israeli domestic market and key export
markets in the region. In Greece, the Company is pursuing an
ongoing investment and development programme to increase production
from its Prinos and Prinos North oil fields and to develop the
Epsilon oil field in the Gulf of Kavala, Northern Greece.
Energean has five exploration licences offshore Israel, and a 25
year exploitation licence for the Katakolo offshore block in
Western Greece and additional exploration potential in its other
licences in Western Greece and Montenegro.
www.energean.com
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END
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