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Circle pleased with Egypt well progress

Monday, March 03 16:12:16

Limerick-based Circle Oil today said it was pleased with the results of the AASE-19 well which was spudded on 1 December and subsequently side-tracked for geological reasons.

The surface location lies in the north-western part of the AASE permit and the bottom hole of the side-track lies up-dip about 900 metres to the east of the AASE-4 producer.

The well's objective was to appraise both the Shagar and Rahmi sands for production. It encountered the Kareem sands with 14 feet of net pay in the Shagar and 10.5 feet of net pay in the Rahmi, both zones are of good reservoir quality. Initial short term testing of the well has yielded flow rates, under a 48/64-inch choke, of 1,242 barrels of oil per day and 1.13 MMscf/d of gas (206 barrels of oil equivalent per day) for a total of 1,448 boepd. The well will be hooked up as a Shagar producer and further results will be provided in due course.

The rig will move to drill the infill AASE-21 well located about 1,200 metres south-east of AASE-4 and 800 metres north-west of the AASE-1X well to appraise both the Shagar and Rahmi sands for production.

The current gross daily production rate from the AASE and the Geyad field is now standing at 11,190 bopd and 11.2 MMscf/d (2,038 boepd) for a total of 13,228 boepd.

Cumulative production from the NW Gemsa Concession has now exceeded 14.6 million barrels of 42 degree API crude oil.

Chief executive Prof Chris Green said: "Circle is very pleased with the results of the sidetrack of the AASE-19 well, which will provide additional oil and gas production from the Al Amir SE field."