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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (10673)	5/13/1998 11:51:00 AM
From: David Reid	Read Replies (2) of 15196

Mr. Yerman your professional view on this find would be greatly appreciated. I'm not a gas analyst. Dave Pakistan Petroleum discovers gas near Jacobabad RECORDER REPORT..........KARACHI (May 13) : Pakistan Petroleum Limited (PPL), announced on Tuesday discovery of gas at the first exploratory well drilled at Hamza (exploration Block-22) near Jacobabad. ..........Block 22 includes parts of Jacobabad, Shikarpur and Khairpur districts of Sindh and Nasirabad district in the province of Balochistan. ..........A spokesman of PPL said on Tuesday that PPL (operator with 65 percent), Petroleum Exploration (Pvt) Limited, (30 percent) and Government Holdings (5 percent) are working interest owners in Block-2768-3 (Block-22). PPL had agreed to assign 20 percent of its working interest to Pyramid Energy Inc, a Canadian based company before discovery. ..........The Hamza well was spud on February 5,1998 and reached a total depth of 1,346.30 meters on March 15,1998. The well has penetrated 17 meters of gas column in the Sui Main Limestone formation with 10.5 meters of net pay. ..........Two Drill Stem Tests were carried out which produced maximum of 2.3-2.8 MMscfd and 4.12 MMscfd of gas both at choke size of 48/64" at a flowing wellhead pressure of 325 psig and 428 psig respectively. Initial gas analysis indicates gas with approximate heating value of 640 BTU/cft. The joint venture intends to appraise the reserves and commercial viability of the Hamza X-1 gas discovery as soon as possible, and evaluate prospectivity and potential of the remaining undrilled structures in the block by integrating the available data. ..........The government of Pakistan has the right to increase its working interest upto 25% in Post Commercial Discovery. ..........PPL is actively pursuing an ambitious exploration programme besides being the operator and producer from Adhi, Kandhkot and the largest Sui Gas field in Pakistan.

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