Hurricane Energy PLC Interim Well Update (7958M)
18 October 2016 - 5:00PM
UK Regulatory
TIDMHUR
RNS Number : 7958M
Hurricane Energy PLC
18 October 2016
18 October 2016
This announcement contains inside information.
Hurricane Energy plc
("Hurricane" or the "Company")
Interim Well Update
Horizontal Sidetrack Well (205 21a-7Z)
Hurricane Energy plc, the UK based oil and gas company focused
on hydrocarbon resources in naturally fractured basement
reservoirs, announces that the 205 21a-7Z well (the "Horizontal
Sidetrack Well") has achieved a sustainable flow rate using an
Electrical Submersible Pump of 14,500 stock tank barrels of oil per
day with no produced formation water. The flow rate was constrained
by the test equipment.
The Horizontal Sidetrack Well will be suspended for use as a
future producer, providing a second production well ahead of the
Early Production System (EPS) phase of development. The Company
anticipates making a further announcement following completion of
operations.
Dr Robert Trice, Hurricane's CEO, commented: "We are highly
encouraged by this flow rate which reinforces our reservoir model
and further demonstrates the production potential of the Lancaster
field. I look forward to providing a further update once we
complete our testing programme."
Contacts:
Dr Robert Trice (Chief
Executive Officer)/
Hurricane Alistair Stobie (Chief +44 (0)1483 862
Energy plc Financial Officer) 820
Nominated Adviser and
Joint Corporate Broker
Cenkos Securities Derrick Lee/Nick Tulloch/Beth +44 (0)131 220
plc McKiernan 6939
Macquarie Joint Corporate Broker
Capital (Europe) Alex Reynolds/ Guy de +44 (0)20 3037
Limited Freitas 2000
Vigo Communications Public Relations +44 (0)20 7830
Patrick d'Ancona/Ben 9704
Simons hurricane@vigocomms.com
About Hurricane
Hurricane is an oil and gas company focused on hydrocarbon
resources in naturally fractured basement reservoirs. The Company's
focus is to discover, appraise and develop oil reserves in basement
rock. Hurricane has already successfully discovered substantial
volumes of oil on the UKCS. The Company has 444-470 mmboe of 2C
Contingent Resources and 432-442 mmboe of P50 Prospective Resources
on acreage it controls 100%.
Further information on Hurricane can be found at:
www.hurricaneenergy.com.
Competent person
The technical information in this release has been reviewed by
Dr Robert Trice, who is a qualified person for the purposes of the
AIM Guidance Note for Mining, Oil and Gas Companies. Dr Robert
Trice, Chief Executive Officer of Hurricane Energy plc, is a
geologist and geoscientist with a PhD in geology and has over 30
years' experience in the oil and gas industry.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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