Transeuro Ukraine Rig Operations Completed

abarrelfullabarrelfull wrote on 10 Apr 2012 05:33
Tags: europe transeuro ukraine upstream

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Transeuro Energy Corp. ("Transeuro" or the "Company") announces that in Ukraine the rig operations have been completed on schedule. The 8 packers and 5 'FracPorts' have been successfully installed across the C12, C13, C14, C15 and C16 intervals from 3100—3500 meters in depth. 3½ inch tubing has been run and the Christmas tree re-installed in preparation for the arrival of the frack pumps and associated equipment. The rig will now be dismantled in preparation for moving to the Povorotnoye field in East Crimea to commence drilling the first well after the recent farm out of the asset to Honoratus Investments Ltd, a wholly owned subsidiary of ASX listed Golden State Resources Limited (ASX:GDN).

The Company has commenced the mobilization of chemicals, proppant and equipment that will be collected at a staging point in Romania prior to import into Ukraine and actual fracking is anticipated in early May. No further down hole intervention is required before the pumping operations. The intention is to create individual hydraulic "propped" fractures in each of the 5 reservoir intervals, using 1000m3 of water and placing a total of 300 tons of synthetic proppant into the reservoirs. These reservoir intervals flowed a cumulative stable rate of 16,000m3/day and condensate during testing in 2011. Third party independent report estimates Mean Gas in Place in these horizons of the Karlavskoye field at 472 Bcf.

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