LONDON--Petroceltic International PLC (EG5A.DB) said Tuesday that initial quality and flow rate results from well No. 10 on the Ain Tsila gas field in Algeria are in line with estimates and other previously drilled wells.

The oil and gas company intends to confirm test results for No. 10 well later in the year after undertaking testing activities. Well No. 10 reached a total depth of 2005 meter measured depth, with a planned 61 meter penetration of a fully gas and condensate bearing Ordovician formation.

The company will now move its rig to well No. 13, which will be drilled as a vertical well to a planned total depth of 2004 meters measured depth.

Petroceltic holds a 38.25% interest in Isarene PSC, which includes the Ain Tsila field. Sonatrach 43.375% interest and Enel (ENEL.MI) an 18.375% interest in the Isarene PSC.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

April 05, 2016 03:15 ET (07:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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