Regal Petroleum PLC Results of MEX-119 Well (0606P)
08 October 2019 - 5:00PM
UK Regulatory
TIDMRPT
RNS Number : 0606P
Regal Petroleum PLC
08 October 2019
8 October 2019
Regal Petroleum plc
("Regal" or the "Company")
MEX-119 Well Results
Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas
exploration and production group, is pleased to announce the
results of the MEX-119 well located at its
Mekhediviska-Golotvshinska (MEX-GOL) gas and condensate field in
Ukraine.
The MEX-119 well is a development well, targeting production
from the B-20 reservoirs in the Visean formation. The well was
spudded in February 2019 and drilled to a depth of 4,822 metres,
which was slightly shallower than its planned depth, after the
targeted horizons were encountered.
One interval, at a drilled depth of 4,804 - 4,816 metres, was
perforated, and initial testing was undertaken using a variety of
choke sizes. During this testing, strong gas and condensate flows
were recorded, and, accordingly, the well was hooked-up to the gas
processing facilities to allow longer-term production testing to be
conducted to optimise the operating parameters of the well.
Currently, the well is producing at a stabilised flow rate of
approximately 5.0 MMscf/d of gas and 193 bbl/d of condensate (1,070
boepd in aggregate).
Sergii Glazunov, Chief Executive Officer, said: "We are
delighted with the results of this new development well, which was
drilled safely and successfully. The flow rates demonstrated are
excellent and a significant boost to our overall production
volumes."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Regal Petroleum plc Tel: 020 3427 3550
Chris Hopkinson, Chairman
Sergei Glazunov, Chief Executive Officer
Bruce Burrows, Finance Director
Strand Hanson Limited Tel: 020 7409 3494
Rory Murphy / Richard Tulloch
Citigate Dewe Rogerson Tel: 020 7638 9571
Louise Mason-Rutherford / Nick Haynes
/ Elizabeth Kittle
Dmitry Sazonenko, MSc Geology, MSc Petroleum Engineering, Member
of AAPG, SPE and EAGE, Director of the Company, has reviewed and
approved the technical information contained within this press
release in his capacity as a qualified person, as required under
the AIM Rules.
Definitions
bbl/d barrels per day
boepd barrels of oil equivalent per day
scf standard cubic feet measured at 20 degrees
Celsius and one atmosphere
MMscf/d million standard cubic feet per day
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DRLLFFLIIRLDIIA
(END) Dow Jones Newswires
October 08, 2019 02:00 ET (06:00 GMT)
Enwell Energy (LSE:ENW)
Historical Stock Chart
From Apr 2024 to May 2024
Enwell Energy (LSE:ENW)
Historical Stock Chart
From May 2023 to May 2024