PTTEP Announces Drilling Results of Appraisal Wells, Zawtika-3 and Zawtika-4, in Myanmar M9 Block
PTTEP International Limited (PTTEPI), a 100% owned subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), an operator and sole shareholder of exploration block – M9 in Myanmar, provides the following operational update;
PTTEP announces the drilling results of appraisal wells Zawtika-3 and Zawtika-4, in addition to the exploration wells Zawtika-1A, Gawthaka-1, Kakonna-1, and Zawtika 2 which were reported to the Stock Exchange of Thailand. Details are as follows:
1. The appraisal well Zawtika-3, located in the south eastern of Zawtika-1A well, was spudded on April 8th, 2007. The well was drilled to a total depth of 2,274 meters and encountered eight zones of natural gas bearing formation with a total thickness of 65 meters. The flow rate testing (Tubing Stem Test-TST) was conducted on selected one zone, indicating maximum natural gas flow rates of approximately 26.68 million standard cubic feet per day (MMSCFD).
2. The appraisal well Zawtika-4, located in the east of Zawtika-1A well, was spudded on May 3rd, 2007. The well was drilled to a total depth of 2,390 meters and encountered eleven zones of natural gas bearing formation with a total thickness of 161 meters. The flow rate testings (Tubing Stem Test-TST) were conducted on two zones, indicating maximum natural gas flow rates of approximately 39.6 MMSCFD and 31.5 MMSCFD respectively. The combined flow rate of two zones is 71.1 MMSCFD.
The successful results of the appraisal wells Zawtika-3 and Zawtika-4 affirm the commercial potential of natural gas in Zawtika area. PTTEP will prepare a development plan and continue to drill 3 appraisal wells, Kakonna-2, Zawtika-5, and Zawtika-6, within July 2007.
