Oil and Gas Corporate News
San Leon Energy (LON:SLE) (BUY, £0.60) (SLE, 24.75p, ? 4.21%) announced that its Polish subsidiary Liesa Energy ("Liesa") has completed its 168 km2 3D seismic acquisition program over the Nowa Sol license in the Southern Permian Basin of Poland. The survey was acquired by Acoustic Geophysical Services ("Acoustic") from Hungary. Permitting and land access agreements were managed by TDE Service Polska ("TDE"). Completion of the survey marks the first time that foreign contractors have carried out a seismic acquisition program in Poland. The survey was designed to image the conventional oil and gas potential of the proven Permian sediments in the Nowa Sol area as well as to look at the deeper potential of the Carboniferous source rocks. The survey will be processed by two independent processing companies, one in the US and one in Poland. Final processed results are expected in September followed by detailed interpretation by the Company, with plans to commence a two to three well drilling campaign by the end of 2011.
Petroceltic (LON:PCI) International (PCI, 8.37p, ? 0.48%) issued an update on operations at the Ain Tsila field on its Isarene permit (Blocks 228 & 229a) in south eastern Algeria. AT-5 Well Test: The AT-5 well was drilled with a 376m of horizontal section through a "pop-up" feature in the Ordovician reservoir at a location about 4km to the east of the AT-1 discovery well. A multistage open hole packer completion with four zone isolation ports was successfully run before the well was suspended for rigless testing. All four zones were then fracture stimulated ("fracced") and a maximum flow rate of 3.50mmscf/d on a 64/64" choke with 60 bbl/d of condensate and 190 bbl/d of water was achieved. While the flow rate is lower than pre-test expectations, this is the third of four wells tested in the Ain Tsila discovery to flow at rates that are likely to be deemed commercial. Appraisal Drilling Update: Well AT-7, which is located in the south west of the field outside the 3D seismic survey approximately 10km south of the AT-3 well, commenced drilling on 26 July. It is designed as a vertical well to test the south westerly extension of the field and will be the 4th well in the current campaign. Well AT-8 started drilling on 19th July. This well…
