Serica Energy (LON:SQZ) (86p, %u25B2 (1.18%)) has commenced drilling the Conan exploration well in Block 113/26b in the East Irish Sea. The well will be drilled by the Ensco 80 jack-up drilling rig to a depth of approximately 5,000ft and is anticipated to take approximately 24 days to drill.
Ascent Resources (LON:AST) (BUY, £0.20) (AST, 4p, %u25BC (5.88%)) has successfully completed the PEN-101 sidetrack, part of the Penészlek Project, in the Nyírség exploration permits of eastern Hungary. The PEN-101 sidetrack will produce gas from the Miocene tuffaceous gas formation, the target of which was defined by 3-D seismic in 2008. The well was originally drilled in February 2010 to a total depth of 1,500m, however during completion an acid stimulation treatment had broken through a repair to the cement isolation behind the steel casing and allowed water production from a deeper formation. The sidetrack was drilled to overcome this problem and the well has now been successfully completed and perforated, with gas flowed on a short test. Once the rig has been demobilised from the location, the PEN-101 well will be acidized and connected to the adjacent production facility where the PEN-105 gas is already processed.
Salamander Energy Plc (LON:SMDR) (235.7p, %u25B2 (4.94%)) announced the successful completion of Phase IV of development drilling on the Bualuang oil field, Block B8/38, offshore Gulf of Thailand. All three sidetracked horizontal wells, BA02 ST2, BA03 ST2 and BA04 ST2 have been completed in the main producing area of the field with downhole electric submersible pumps and expandable sand screens. The wells each consist of 600-800m horizontal sections, and were successfully landed in the target zone between 3-5m below the top reservoir. All three wells have now been brought on stream, having cleaned up and tested at stepped-up rates to determine well productivities. The wells will be choked back to produce at rates for optimal field management and reserves recovery.
Mining Corporate News
Zincox Resources Plc (LON:ZOX) (44.25p, %u25BC (3.8%)) announced that its chosen operating site in Korea has been officially designated as a Foreign Investment Zone (FIZ) by Korea's Foreign Investment Committee. The designation is for the express purpose of recycling electric arc furnace dust (EAFD) by ZincOx Korea Limited (the Company's wholly owned Korean subsidiary). Designation of its site as an FIZ ensures that ZincOx's KRP will…

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