Here's the news. 9,000 bopd gross, 3375 net to CUX. Based on your numbers Hankaaron, it should be good for 50 cents or more cash flow. Am I right?
Date: September 7, 2000
For Immediate Release:
Centurion Energy Announces Test Rates from Al Manzah #2 Well in Tunisia
Calgary, Alberta -- Centurion Energy International Inc. (TSE: CUX) announces
initial testing results of its Al Manzah #2 development well located on the
company's Grombalia Permit in Tunisia.
Al Manzah #2 horizontal well was spudded August 4th and reached total depth
of 1162 metres in the Bou Dabbous reservoir on September 4th. Al Manzah #2
well bottomed 55 vertical metres below the lowest known oil in the discovery
well, Al Manzah #1, and has penetrated 219 meters of the Bou Dabbous
reservoir. Bottom-hole location of Al Manzah #2 is 542 metres to the
northwest of Al Manzah #1.
Al Manzah #2 tested at initial rates of approximately 9,000 bopd with no
water production. The well will be put on production at an optimum flow rate
which is currently being investigated. Production from the well is expected
to commence in approximately a week, immediately following logging and
completion operations.
This is the first horizontal well drilled in the Al Manzah field following
Centurion's Al Manzah #1 that is currently on production.
At present, Centurion's development plan calls for one additional well, Al
Manzah #3, which is anticipated to spud in October. The Al Manzah field
plan of development could be expanded to a total of five wells.
Centurion Energy is the operator of Grombalia Permit through its subsidiary
Ecumed Petroleum and owns 37.5% net working interest in the permit.
Centurion is presently producing approximately 2,050 bopd (net) 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 in Egypt. |
