Still nothing definitive, but hopefully #2 should ultimately produce the expected 50% of test rates...
Centurion Energy Provides Al Manzah 2 Production Update
13:13 GMT-04:00 Monday, September 25, 2000
CALGARY, ALBERTA--Centurion Energy International Inc. (TSE:
CUX) announces that a production test commenced on Saturday, September 16, 2000 for the recently drilled Al Manzah
2 development well which is located on the company's Grombalia Permit in Tunisia.
The Al Manzah 2 well is currently undergoing an evaluation process to gather necessary information on reservoir and
facilities performance in order to determine the optimum rate at which the well should be produced. The evaluation
process, which will last approximately 21 days, involves producing the well at increasing rates of production and shutting in
the well between flow tests.
As of September 21, the well produced at a rate of approximately 4000 bopd (gross) with a gas to oil ratio of
approximately 300 cubic feet per barrel. Higher rates of production are expected to be reached during the evaluation. No
water has been produced from the well to date. The oil is being sold to a local refinery at a price of Brent Oil plus a $0.50
premium (U.S. dollars).
The second development well, Al Manzah 3, is expected to spud by late October.
Centurion Energy is the operator of Grombalia Permit through its subsidiary Ecumed Petroleum and owns 37.5% net
working interest in the Al Manzah field.
In addition to new production from Al Manzah 2, Centurion is presently producing from three fields in Tunisia. The
company's land position in Tunisia totals over 1.3 million net acres with high exploration potential.
Headquartered in Calgary, Centurion Energy is also involved in exploration and development of the El Manzala
Concession in Egypt.
Certain statements in this press release constitute forward looking statements. The information in this press release is based
on Centurion Energy's current information, expectations and assumptions, and is subject to a number of uncertainties and
risks which could cause the actual results to differ materially from those anticipated. Such risks include, among others, the
risk that production flow rate could be materially less then the flow rate tested and the uncertainty as to the timing of the
commencement of production and continuing production levels. |
