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Enegi Oil Plc is an independent oil and gas company. Current operations are focused on opportunities around the Port au Port Peninsula in Newfoundland, Canada and the Clare Basin in County Clare, Ireland.
The Port au Port Peninsula is located in western Newfoundland, which, although lightly explored, is in an active petroleum...Read more
RNS Release - GHS Operational Update
ENEGI OIL PLC
AIM ticker: 'ENEG'
OTC ticker: 'EOLPF'
12 January 2012
Enegi Oil Plc
('Enegi' or 'the Company')
Garden Hill South Operational Update
Further to the release dated the 4 January 2012, Enegi is pleased to announce that Schlumberger has mobilised equipment and personnel to the Garden Hill South ('GHS') property and the next stage of the workover has now commenced with flow tests being conducted and chemically conditioned crude being pumped down the PaP#1-ST#3 well.
Photographs of operations at GHS have been posted on the Company website at www.enegioil.com/operations/image-bank. More will be added as the workover progresses.
As well as facilitating preparation for commercial production, the workover is expected to provide further data that will enable the Company to complete the Development Plan for GHS with the objective being to significantly enhance the ultimate recovery of hydrocarbons from the reservoir.
As outlined in the Company's announcement on 21 December 2011 the workover is expected to consist of a number of tasks, including:
· Establishing safe injection rates and pressures, by conducting flow tests and by pumping chemically conditioned crude oil down the well;
· A bullhead acid squeeze on the target formation;
· Shutting-in the well for a soak period;
· Flowing the well to recover treatment chemicals;
· Shutting-in the well until reservoir pressure recovers;
· Flow testing at low rates for a 30 to 35 day period to evaluate reservoir inflow and recharge rates above bubble point;
· Shutting-in the well for an extended build up evaluation test.
Updates on the progress of the workover and testing will follow as the programme continues to be implemented.
Enegi is pleased to announce that Chris McGillivray will be working with the Company's corporate communications team. Mr. McGillivray (email@example.com) has worked in the financial services industry on the banking side for the past 12 years, with TD Commercial Banking and Canadian Imperial Bank of Commerce Business Banking. As part of our improving corporate communication objectives please see facebook (Enegi Oil PLC) and twitter (@enegioil) links at our website home page www.enegioil.com. The Company will also be updating the photos of operation on a regular basis on the Company website.
Alan Minty, CEO of Enegi Oil Plc., commenting on operations:
"We are delighted that the next stage of the workover has now commenced. The workover represents a significant step as we work towards establishing full field development programmes for GHS and our other Canadian assets. We believe this program will contribute to the demonstration of commerciality of the GHS discovery, which Hunt Oil in 1995 initially flowed at rates of up to 1,742 bopd and 1,528 bopd from two separate intervals. These are exciting times for the Company as we embark on and benefit from activity on our assets."
Enegi Oil 0; Tel: + 44 161 817 7460
Alan Minty, CEO
David Parry, Director Tel: + 1 604 568 0733
Cenkos Securities Tel: + 44 207 397 8900
College Hill Tel: + 44 207 457 2020
The information in this release has been reviewed by Barath Rajgopaul MSc (Mech. Eng.) C. Eng, a member of the Advisory Board of Enegi. Mr. Rajgopaul has over 29 years experience in the petroleum industry.
Enegi Oil Plc is an independent oil and gas company. Current operations are focused on opportunities around the Port au Port Peninsula in Newfoundland, Canada and the Clare Basin in County Clare, Ireland. The Port au Port Peninsula is located in western Newfoundland, which, although lightly explored, is in an active petroleum system with light oil having been discovered on a number of occasions. The Clare Basin is located in western Ireland and initial technical studies show that it has the potential to contain shale gas.
This information is provided by RNS