First Calgary Petroleums Ltd. (FCP) provides an update of its drilling and testing activities in partnership with Sonatrach on Ledjmet Block 405b in Algeria.
Testing has now been completed on 4 additional wells exhibiting 9 main reservoirs with cumulative results reported on a normalised flow rate of 40,167 barrels of oil equivalent per day (boepd) made up of 24,416 barrels of oil plus condensate per day and 94.4 million cubic feet (mmcf) of gas per day. This now brings the total number of wells tested on Block 405b to 25 with cumulative normalised results of 324,267 boepd.
An additional 5 wells are waiting on the completion of testing and/or stimulation programmes and 1 well is currently drilling.
The Company also reports that the MLE field development work is on schedule with the Front End Engineering and Design work approximately 50% complete.
Richard Anderson, President and CEO commented:
“All FCP’s recent drilling and testing activities are located in the central area and ZER area on Block 405b. The purpose of this drilling and testing programme is to complete the delineation of the Field pools prior to filing a development plan early in 2008. FCP is extremely pleased with the results to date in that the Company continues to add gas / condensate reserves in the central area which are complementary to the already established MLE field reserves. As well, the Tagi oil / gas / condensate pools are developing into significant fields in the central area which will become a second major anchor development project. Being mostly oil and liquids, the TAGI pools are transforming Ledjmet Block 405b into both an oil and gas area.”
Detailed Test Information
The normalised (stabilized*) test rates from the individual results are summarized as follows:
LEC-2: 10,140 boepd from two zones
• the TAGI zone tested 8,879 (3,525*) boepd comprised of 30.4 (12.07*) mmcf of gas per day plus 3,812 (1,513*) barrels of condensate per day at a depth of 3304 meters
• the Upper Devonian zone tested 1,261 (1,490*) boepd comprised of 6.2 (7.34*) mmcf of gas per day plus 228 (268*) barrels of condensate per day at a depth of 3476 meters
LES-6: 17,142 boepd from two zones
• the TAGI zone tested 15,998 (3,638*) boepd comprised of 12,413 (2,823*) barrels of 40 degree API oil per day plus 21.5 (4.89*) mmcf of gas per day at a depth of 3432 meters
• the Lower Devonian zone tested 1,144 (1,252*) boepd comprised of 541 (574*) barrels of condensate per day plus 3.6 (4.07*) mmcf of gas per day at a depth of 4363 meters
MZLN-3: 5,208 boepd from two zones
• the Lower Devonian zone tested 4,505 (3,089*) boepd comprised of 22.1 (15.09*) mmcf of gas per day plus 822 (574*) barrels of condensate per day at a depth of 4342 meters
• the Lower Devonian zone tested 703 (1,174*) boepd comprised of 3.1 (5.1*) mmcf of gas per day plus 190 (324*) barrels of condensate per day at a depth of 4310 meters
ZER-2: 7,677 boepd from three zones
• the TAGI zone tested 551 (665*) boepd comprised of 431 (551*) barrels of 44 degree API oil per day plus 0.7 (0.684*) mmcf of gas per day at a depth of 4017 meters
• the Lower Devonian zone tested 745 (762*) boepd comprised of 638 (654*) barrels of 44 degree API oil per day plus 0.6 (0.65*) mmcf of gas per day at a depth of 4169 meters
• the Lower Devonian zone tested 6,381 (3,333*) boepd comprised of 5,341 (2,823*) barrels of 44 degree API oil per day plus 6.2 (3.06*) mmcf of gas per day at a depth of 4380 meters
* Stabilized flow rate as the flow resulting from the test operation (choke 32/64”).
In all cases, the fluids produced during testing were sweet (non-sulphurous).
