Independent Resources (LON:IRG) gave an update this morning on its Fuma Bruna coal seam, located near Grosseto, Italy, which covers approximately 247 km2, a large part of which is underlain by virgin coal. The oil and gas exploration and gas storage company announced this morning that its wholly-owned subsidiary, Independent Energy Solutions, has reached the target coal sequence at FB2 in the Fiume Bruna coal seam, Italy, and has under-reamed to 9" the 6" open hole section from 336-341.5m.
A short term production test began following sufficient de-watering of the well. Well stimulation operations will follow a planned leak-off test using 3 ½" drill pipe string and packer. At this point, the company expect the well will then be put on a long duration production test. The report explains that the purpose of this exercise is to evaluate the best means to optimize gas flow rates from the gas saturated coal and shale in place, whilst at the same time ensuring that water flow rate is minimized. The company expect works on the well to be completed by mid April. Currently they are examining new samples of coal and shale and measuring them for gas saturation and desorption rates. The results from the FB2 well are expected following several weeks of production, as this time lag allows for sufficient de-watering to take place, the report said.
Independent Resources was admitted to AIM in December 2005 and is pursuing an integrated and asset-backed gas trading business in Italy with midstream components in Italy and upstream components within Italy and in North Africa. Along with Fiume Bruna, these include the planned Rivara natural gas storage facility in the Po Valley, and exploration acreage at Ksar Hadada in Tunisia.
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