Premier Oil PLC Block 7 Zama appraisal success (9427N)
January 24 2019 - 1:00AM
UK Regulatory
TIDMPMO
RNS Number : 9427N
Premier Oil PLC
24 January 2019
Premier Oil plc (Premier)
Block 7 Zama appraisal success
24 January 2019
Premier notes the press release by Talos Energy, the operator of
Block 7 offshore Mexico, announcing the successful completion of
the first part of the Zama appraisal programme.
Highlights
-- 152 metres of net pay encountered above the oil water contact (OWC) as expected
-- 73% Net-to-Gross ratio, higher than that at Zama-1 and ahead of pre-drill estimates
-- Reservoir quality similar to that at Zama-1 as predicted
-- Zama-2 well will now be side-tracked up-dip and flow tested as planned
The Zama-2 appraisal well was drilled 2.1 kilometres to the
north of the Zama-1 discovery well in a down dip location with a
key objective to confirm the OWC. The well encountered the top Zama
reservoir at 3,279 metres (true vertical depth (TVD)) on prognosis
and the OWC at 3,430 metres TVD, consistent with the flat-spot
observed on seismic. A full wireline data acquisition programme was
undertaken, including the collection of cores, pressures and fluid
samples from the oil and water leg.
The Zama-2 well penetrated 152 metres of net pay above the OWC
in line with pre-drill estimates and encountered a higher
Net-to-Gross ratio of 73% compared to 63% at Zama-1. Reservoir
quality is similar to that at Zama-1 and in line with
expectations.
Following completion of the data acquisition programme, the
Zama-2 well was deepened to evaluate the high risk Marte
exploration prospect. The Marte reservoir was encountered on
prognosis and did not find hydrocarbons.
The Zama-2 well will now be side-tracked (Zama-2ST1) updip and
will include a comprehensive coring programme as well as a drill
stem test of the Zama reservoir. The programme is progressing ahead
of schedule and is currently under budget. Further updates will be
provided as key activities are completed.
Tony Durrant, Chief Executive, commented:
"This is an excellent start to the Block 7 Zama appraisal
programme in Mexico. It enhances our interpretation of the large
Zama discovery and increases our confidence in our resource
estimates. We now look forward to the results of the drill stem
test of the Zama-2 side track."
Enquiries
Premier Oil plc Tel: 020 7730 1111
Tony Durrant, Chief Executive
Dean Griffin, Head of Exploration
Camarco Tel: 020 3757 4983
Billy Clegg
Georgia Edmonds
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DRLXXLLLKFFFBBQ
(END) Dow Jones Newswires
January 24, 2019 02:00 ET (07:00 GMT)
Harbour Energy (LSE:HBR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Harbour Energy (LSE:HBR)
Historical Stock Chart
From Jul 2023 to Jul 2024