OilVoice - Nautical Petroleum Announces Keddington-3z Preliminary Production Results

Nautical Petroleum Announces Keddington-3z Preliminary Production Results

Tuesday, June 15, 2010

Nautical Petroleum plc provides an update on production operations at the UK onshore Keddington oil field located in Lincolnshire licence PEDL005(Remainder), in which Nautical holds a 10% working interest.

Drilling operations on the Keddington-3 and 3z wells were completed on 24 April 2010. The Keddington-3z horizontal well encountered a total of 235 metres of sandstones, including 226 metres in the main Unit 1 reservoir interval.

The well was completed with a slotted liner on 4 June 2010 following delays caused by the need to repair leaking production tubing. Pumped production of the well began at 10:30 hours on 7 June 2010 and by 18:30 hours the well had begun to produce hydrocarbons to surface.

As significant flowing pressures were observed, the pump was stopped and the well was allowed to flow naturally. The well has been free-flowing oil and gas since. Cumulative oil production until 10:30 hours on 14 June 2010 was 1,855 barrels at an average rate of 265 barrels of oil per day.

The well is also producing significant quantities of gas with the average daily rate being over 500,000 cubic feet of gas per day. The productivity of the well is better than expected while the provenance of the gas and the opportunities it represents are under study by Egdon.

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