Gallic Energy announces spud of Ossun-2D well in France

Friday, March 23, 2012
  • The Ossun-2D well is a re-entry of a Société Nationale des Pétroles d'Aquitaine ("SNPA" a Total SA legacy company) wellbore previously drilled in the late 1960's.

Gallic Energy Ltd. (TSX VENTURE:GLC) announce that it has spudded the Ossun-2D well located in the Aquitaine Basin in Southern France using SMP 101, a conventional double drilling rig.

The Ossun-2D well is a re-entry of a Société Nationale des Pétroles d'Aquitaine ("SNPA" a Total SA legacy company) wellbore previously drilled in the late 1960's. The well will be sidetracked out of existing casing at an approximate depth of 1,100 m where a whipstock will be set and new drilling will commence to an approximate total depth of 3,000 m. In January 2012, Gallic encountered obstructions in the existing casing at a depth of 1,344 m at which point it was determined that the workover rig being used was not sufficient to overcome the obstructions and the well plan required change. The formation targets of the Ossun-2D well are between 1,775 m and 3,000 m. Gallic's main target is the 200-m thick Cretaceous Flysch Carbonate at an approximate depth of 2,700 m where SNPA had previously encountered natural gas shows that were never tested or produced. GLJ Petroleum Consultants Ltd. estimate undiscovered petroleum initially-in-place for the Ossun 2D play at 248 BCF (see Gallic press releases of March 6, 2012 and November 2, 2011). Well results are expected within 45 days and this timing will be dependent upon testing parameters.

Gallic has a 100% working interest on its lands (320,000 acres), wells and permits in France.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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