OilVoice - Ascent Resources Reports PEN-101 Completion in Eastern Hungary

Ascent Resources Reports PEN-101 Completion in Eastern Hungary

Tuesday, May 11, 2010

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, through its subsidiary PetroHungaria kft, has successfully completed the PEN-101 sidetrack, part of the Penészlek Project, in the Nyírség exploration permits of eastern Hungary.

The PEN-101 sidetrack will produce gas from the Miocene tuffaceous gas formation, the target of which was defined by 3-D seismic in 2008. The well was originally drilled in February 2010 to a total depth of 1,500m, however during completion an acid stimulation treatment had broken through a repair to the cement isolation behind the steel casing and allowed water production from a deeper formation. The sidetrack was drilled to overcome this problem and the well has now been successfully completed and perforated, with gas flowed on a short test. Once the rig has been demobilised from the location, the PEN-101 well will be acidized and connected to the adjacent production facility where the PEN-105 gas is already processed.

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