Leni issues Goudron drilling update
Leni Gas & Oil plc confirmed that well GY-665 has been cased to a depth of 2,736 feet and that petrophysical analysis of the electric logs run to total depth have indicated the presence of a total of 526 feet of net oil pay; 270 feet in the Goudron sandstone and 256 feet in the Gros Morne sandstone.
Neil Ritson, the Company’s Chief Executive, commented:
“Based on the observed pressures and the extent of the pay we are confident that well GY-665 will have similar production characteristics to the recently completed GY-664 well which is now flowing naturally to tank at a stable pressure of 540 psi through a 6/32-inch choke. Spudding of the third well is likely within the next few days.”
LGO will now seek the necessary approvals to complete the GY-665 as a Gros Morne producer.
As previously reported GY-665 also intersected 270 feet of net oil pay in the Goudron sandstones within the interval 590 to 1,440 feet which may be completed at a later date.
Once cementing work is complete at GY-665 Well Services Rig 20 will be prepared for skidding to the next well location, expected to be designated GY-666, where a well deviated 960 feet to the south-west will be drilled to the primary Gros Morne sandstone reservoir. Skidding entails the lowering of the rig mast and disconnection of the power and mud services prior to the sliding of the rig sub-base approximately 20 feet before the mast and services are reconnected. This is expected to take 2 to 3 days to complete.
LGO intends to continue with the planned program of 30 new development wells including five further wells with Well Services Rig 20 and the mobilisation, as soon as practical, of a second rig.
Competent Person’s Statement:
The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Director for Leni Gas & Oil Plc, who has over 35 years of relevant experience in the oil industry. Mr. Ritson is a member of the Society of Petroleum Engineers (SPE), an Active Member of the American Association of Petroleum Geologists (AAPG) and is a Fellow of the Geological Society of London.
Source: Leni Gas & Oil PLC