Mnazi Bay #2 Appraisal Well - Spudded

abarrelfullabarrelfull wrote on 27 Apr 2014 13:57
Tags:

Latest News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/killajoules.wikidot.com\/feed\/pages\/pagename\/blog%3A_start\/category\/blog\/limit\/10\/t\/My+Blog","limit":"4","module_body":"* %%linked_title%%"}}
  • Want a weekly review of refining news?

2006-06-09

Artumas Group Inc. is pleased to announce the Mnazi Bay #2 appraisal well has been spudded. Drilling to target depth of 2400 metres is expected to take approximately 35 days, with the testing and completion program estimated to be concluded 20 days thereafter.

The Mnazi Bay #2 well will target the prolific Tertiary sands of Oligocene and Miocene formations in the Mnazi Bay gas field, which has production tested large volumes of natural gas and the presence of oil as evidenced in Mnazi Bay #1.

In addition to the appraisal objectives, Mnazi Bay #2 will continue to drill directionally into the next fault block to evaluate the offsetting Nico Exploration Prospect. This will provide valuable data from which to evaluate the reservoir for future exploration drilling.

Eight additional prospective structural leads have been identified in the concession area including deeper potential hydrocarbon bearing structures in the Eocene and Cretaceous formations.

Artumas' common shares trade on the Oslo stock exchange under the symbol AGI.


Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License