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Oil flows from Circle's Egypt well

Thursday, February 14 16:11:49

Limerick-based energy prospector, Circle Oil, today said that its AASE-14X ST1 well in Egypt has encountered oil.

Infill production well AASE -14X, located centrally in the field midway between AASE-1X ST1 and AASE-12X ST1, was spud on 26 November, it said.

Production from the AASE and Geyad fields averaged 9,091 bopd (gross) through January 2013. Cumulative production from the NW Gemsa Concession has now exceeded 10.4 million barrels of 42 degree API Crude oil.

The well has encountered 20 ft MD of gross Shagar sand (9,610-9,630 ft MD) with 16 ft MD net pay, plus 15 ft MD of gross Rahmi sand (9,680-9,695 ft MD) with 13 ft MD net pay, with a total depth of 10,000 ft MD.

The well is now planned to be completed as a producer and an update will issue once flow testing is completed.

Chief executive Prof Chris Green said "Circle is very pleased that the AASE-14X ST1 well has encountered pay intervals as prognosed in the Shagar and Rahmi sands and will be completed as a producer to complement the production levels from the AASE field.

"The start up of gas flow through the 12" pipeline from our Geyad and AASE fields is another significant step forward as this production is expected to add approximately 2,000 boepd to the daily gross production."