Centurion Energy Spuds El Wastani #2 Re-entry Well in Egypt
Tuesday November 14, 8:59 am Eastern Time
Press Release
CALGARY, Alberta--(BUSINESS WIRE)--Nov. 14, 2000--Centurion Energy International Inc. (TSE:CUX. - news) announces drilling of El Wastani #2 re-entry well located in the prolific Nile Delta region of Egypt.
The well, which was originally drilled and proven commercially viable in 1989 and suspended due to lack of gas market at that time, will be tested and completed for production.
Centurion's first re-entry well on the field, El Wastani #1, production tested in 1998 at a rate of 12.1 mmcf/d of natural gas and 315 bbls/d of condensate. The El Wastani field is located on the El Manzala Concession which covers 420,000 acres in Northern Egypt. Centurion has a 100% working interest in the concession.
Centurion's plan of development for the El Wastani field, once El Wastani #2 is completed for production, includes construction of a 20 kilometer pipeline to be tied-in to an existing gas processing facility. The company anticipates that the El Wastani field will be on production by mid-2001.
The company also reports that it has secured drilling equipment and has scheduled the spudding of its third well in the Al Manzah field in Tunisia before year-end. Drilling of Al Manzah #3 had been delayed due to delays in finalizing a surface lease, which has now been completed. Notwithstanding this delay, Centurion reports that all required preliminary work, including an environmental study and government approvals, has been completed and the rig is ready for mobilization.
Centurion's plan of development for the Al Manzah field, assuming the successful testing of Al Manzah #3, could be expanded to a total of five wells.
The company will be posting drilling operation updates on its web site.
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. |
