Calvalley Petroleum Inc. discovers new oil pool
Calvalley Petroleum Inc. (“Calvalley” or the “Company”) is pleased to announce results from the drilling of its Ras Nowmah South exploration prospect.
The well was drilled to a total depth of 1,530 meters and intersected the Qishn formation, on prognosis, at 1,369 meters. Based on drilling and petro-physical data, the well encountered 15 meters of gross oil pay (10.5 meters net) with 25 percent porosity in the Qishn formation.
The well has been equipped with a down-hole pump and placed on production at a restricted rate of approximately 250 barrels per day of crude oil. Initial field tests of oil quality estimate the crude oil gravity at 19 degrees, which is to be confirmed by laboratory analysis. Consistent with other Qishn wells, the well will require some time to clean-up before diverting production to the central treating facility.
The Company is pleased with the results from this well, and plans to drill an appraisal well in the reservoir in order to establish the size of the new pool. Further details on the production capacity of this well will be released when the information is available.
The drilling rig is being moved to the next prospect on the plateau, Ras Nowmah North. It is anticipated that the Ras Nowmah North prospect, barring unforeseen circumstances and delays, will spud in the next two weeks.
Calvalley is an international oil and gas company, with offices in Calgary, Alberta, Canada, that operates its 50% working interest in Block 9 of the Masila Basin, in The Republic of Yemen.
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