Enwell Energy PLC Results of SV-25 Well and Spud of SV-29 Well (2647Q)
February 25 2021 - 1:00AM
UK Regulatory
TIDMRPT
RNS Number : 2647Q
Enwell Energy PLC
25 February 2021
25 February 2021
Enwell Energy plc
("Enwell" or the "Company")
Results of SV-25 Well and Spud of SV-29 Well
Enwell Energy plc (AIM: ENW), the AIM-quoted oil and gas
exploration and production group, is pleased to announce the
results of the SV-25 well and the spudding of the SV-29 well at its
Svyrydivske (SV) gas and condensate field in Ukraine.
The SV-25 well is an appraisal well, targeting the B-20, B-22
and B-23 horizons in the Visean formation. The well was spudded in
July 2020 and has been drilled to a final depth of 5,320 metres.
One interval, at a drilled depth of 5,184 - 5,190 metres, within
the B-22 reservoirs was perforated, and initial testing was
undertaken using a variety of choke sizes. The well has been
hooked-up to the gas processing facilities to allow longer-term
production testing to be conducted to optimise the operating
parameters of the well. Currently, the well is producing at a
stabilised flow rate of approximately 1.9 MMscf/d of gas and 109
bbl/d of condensate (452 boepd in aggregate).
The SV-29 well has now been spudded and has a target depth of
5,450 metres. Drilling operations are scheduled to be completed by
the end of the third quarter of 2021, and, subject to successful
testing, production hook-up is scheduled during the fourth quarter
of 2021. The well is primarily a development well, targeting
production from the B-22 horizon, as well as appraising the B-21
and B-23 horizons, in the Visean formation.
Sergii Glazunov, Chief Executive Officer, said: " We are very
pleased with the results of the SV-25 well, which was drilled
safely and successfully, and ahead of schedule. The robust flow
rates recorded will provide a further boost to our overall
production volumes. We are also looking forward to the safe and
efficient drilling of the SV-29 well, which we hope will continue
our success in the development of our fields."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Regal Petroleum plc Tel: 020 3427 3550
Chris Hopkinson, Chairman
Sergii Glazunov, Chief Executive Officer
Bruce Burrows, Finance Director
Strand Hanson Limited Tel: 020 7409 3494
Rory Murphy / Matthew Chandler
Arden Partners plc Tel: 020 7614 5900
Ruari McGirr / Dan Gee-Summons (Corporate
Finance)
Simon Johnson (Corporate Broking)
Citigate Dewe Rogerson Tel: 020 7638 9571
Elizabeth Kittle
Dmitry Sazonenko, MSc Geology, MSc Petroleum Engineering, Member
of AAPG, SPE and EAGE, Director of the Company, has reviewed and
approved the technical information contained within this press
release in his capacity as a qualified person, as required under
the AIM Rules.
Definitions
bbl/d barrels per day
boepd barrels of oil equivalent per day
scf standard cubic feet measured at 20 degrees
Celsius and one atmosphere
MMscf/d million standard cubic feet per day
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END
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