Geza Ulole
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- Oct 31, 2009
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Aminex Says Ntorya-2 Results "Well Ahead" Of Pre-Drill Expectations
Mon, 6th Feb 2017 08:50
LONDON (Alliance News) - Aminex PLC on Monday said the Ntorya-2 well drilled in Tanzania encountered a gross gas bearing reservoir unit approximately 51 metres in size, with initial results suggesting a potential net pay of 25 to 30 metres.
"Drilling of the reservoir section was associated with significant gas influxes and higher than expected pressures. The result is well ahead of the company's pre-drill expectations," said Aminex.
Aminex shares were up 11% to 3.10 pence per share on Monday morning.
The well was drilled on the Ruvuma licence and to a depth of 2,750 metres. The gas-containing reservoir was encountered at 2,596 metres depth. The well is currently being deepened to a total depth of approximately 2,780 metres, prior to a wireline logging programme being run, to allow for the setting of a 7-inch liner below the reservoir interval.
"Preparations are currently underway for a comprehensive well testing programme and the company expects to have results of the flow-testing and ongoing petrophysical analysis by late February," said Aminex.
"Ntorya-2 also encountered traces of oil in the gross reservoir interval and the company is now evaluating the implications of this positive development through an updated basin model," said Aminex.
Aminex owns 75% of Ruvuma and the latest well was spud in December to further appraise the Ntorya appraisal area. The first well, Ntorya-1, delivered a net pay of 3.5 metres and flow-tested 20 million cubic feet of gas per day, alongside 139 barrels daily of associated condensate.
That suggests the potential net pay found at Ntorya-2 is between 7 to 8.5 times larger than the one found at Ntorya-1.
Depending on the results of the well test, the company intends to apply for a 25-year development licence over the Ntorya appraisal area.
"We are delighted with the progress of the Ntorya-2 appraisal well, which is ahead of our expectations. The reservoir is both thick and high quality. Aminex looks forward to providing the results of the flow-testing which will enable the joint venture to consider its options for development of the Ntorya field," said Chief Executive Jay Bhattacherjee.
Solo Oil PLC also noted Aminex's announcement. It has a 25% stake in the Ntoyra-2 well. Solo shares were up 16% to 0.51p on Monday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Copyright 2017 Alliance News Limited. All Rights Reserved.
Aminex Says Ntorya-2 Results Well Ahead Of Pre-Drill Expectations
nomasana, sam999, NairobiWalker, hbuyosh, msemakweli, simplemind, Kimweri, Bulldog, MK254, Kafrican, Ngongo, Ab_Titchaz, mtanganyika mpya, JokaKuu, Ngongo, Askari Kanzu, Dhuks, Yule-Msee, waltham, Mzee, mombasite gabriel, Juakali1980, Boda254, mwaswast, MwendaOmo, Mwanakijiji, Iconoclastes, oneflash, Kambalanick, 1 Africa, saadeque, burukenge, nyangau mkenya, Teen-Upperhill Nairobi, kadoda11
Mon, 6th Feb 2017 08:50
LONDON (Alliance News) - Aminex PLC on Monday said the Ntorya-2 well drilled in Tanzania encountered a gross gas bearing reservoir unit approximately 51 metres in size, with initial results suggesting a potential net pay of 25 to 30 metres.
"Drilling of the reservoir section was associated with significant gas influxes and higher than expected pressures. The result is well ahead of the company's pre-drill expectations," said Aminex.
Aminex shares were up 11% to 3.10 pence per share on Monday morning.
The well was drilled on the Ruvuma licence and to a depth of 2,750 metres. The gas-containing reservoir was encountered at 2,596 metres depth. The well is currently being deepened to a total depth of approximately 2,780 metres, prior to a wireline logging programme being run, to allow for the setting of a 7-inch liner below the reservoir interval.
"Preparations are currently underway for a comprehensive well testing programme and the company expects to have results of the flow-testing and ongoing petrophysical analysis by late February," said Aminex.
"Ntorya-2 also encountered traces of oil in the gross reservoir interval and the company is now evaluating the implications of this positive development through an updated basin model," said Aminex.
Aminex owns 75% of Ruvuma and the latest well was spud in December to further appraise the Ntorya appraisal area. The first well, Ntorya-1, delivered a net pay of 3.5 metres and flow-tested 20 million cubic feet of gas per day, alongside 139 barrels daily of associated condensate.
That suggests the potential net pay found at Ntorya-2 is between 7 to 8.5 times larger than the one found at Ntorya-1.
Depending on the results of the well test, the company intends to apply for a 25-year development licence over the Ntorya appraisal area.
"We are delighted with the progress of the Ntorya-2 appraisal well, which is ahead of our expectations. The reservoir is both thick and high quality. Aminex looks forward to providing the results of the flow-testing which will enable the joint venture to consider its options for development of the Ntorya field," said Chief Executive Jay Bhattacherjee.
Solo Oil PLC also noted Aminex's announcement. It has a 25% stake in the Ntoyra-2 well. Solo shares were up 16% to 0.51p on Monday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Copyright 2017 Alliance News Limited. All Rights Reserved.
Aminex Says Ntorya-2 Results Well Ahead Of Pre-Drill Expectations
nomasana, sam999, NairobiWalker, hbuyosh, msemakweli, simplemind, Kimweri, Bulldog, MK254, Kafrican, Ngongo, Ab_Titchaz, mtanganyika mpya, JokaKuu, Ngongo, Askari Kanzu, Dhuks, Yule-Msee, waltham, Mzee, mombasite gabriel, Juakali1980, Boda254, mwaswast, MwendaOmo, Mwanakijiji, Iconoclastes, oneflash, Kambalanick, 1 Africa, saadeque, burukenge, nyangau mkenya, Teen-Upperhill Nairobi, kadoda11
