News release again...flow rates announced.
All the best,
Margie
Carmanah Resources Reports MPA-1 Production Rates
CALGARY, ALBERTA--Carmanah Resources Ltd. ("CKM" - TSE), the
operator of the Bawean Production Sharing Contract with an 84
percent working interest through its wholly-owned subsidiary, GFB
Resources (Java) Limited, is pleased to announce production
results from the MPA-1 well in the Camar Field, offshore Java,
Indonesia.
MPA-1 is a deviated well drilled from "Monopod A" situated in the
north lobe of Camar. It was drilled to a total measured depth of
7,237 feet (approximately 4,200 feet true vertical depth) and
encountered highly porous and permeable oil-bearing Kujung II
Lower Limestones.
The well was completed and placed onstream at 7:40 a.m. on
September 1, 1998. Liquids flowed to surface within five minutes
and almost immediately thereafter the well flowed clean 44.7
degree API light-gravity crude oil through a 39/64" choke with a
flowing wellhead pressure of 790 psig. As the well commenced
cleaning up, the choke size was gradually increased to 48/64" and
by 15:00 hours on September 3, 1998 the well was flowing at a rate
of 2,800 barrels of oil per day, with 10 percent bottom sediment
and water ("BS&W"), no formation water, a flowing wellhead
pressure of 850 psig and a gas/oil ratio ("GOR") of 1,321
Mcf/barrel. During the first 48 hours of production, the gravity
of the oil decreased to 38.7 degree API, likely due to early
venting of lighter ends.
On September 3, 1998, the choke size was increased to 52/64" for a
four-hour period, during which the well flowed at an average rate
of 3,450 barrels of oil per day, again with 10 percent BS&W, no
formation water and a GOR of 1,159 Mcf/barrel. The peak production
rate recorded under these conditions was 3,521 barrels of oil per
day with a flowing wellhead pressure of 800 psig.
Since September 3, 1998 the well has largely been produced through
either a 48/64" or 50/64" choke with strong flowing wellhead
pressures ranging between 885 psig and 925 psig and averaging 900
psig. During the 96 hour period ending at 24:00 hours on September
6, 1998 the average production rate for MPA-1 was 2,689 barrels of
oil per day with 10 percent BS&W, no formation water and an
average GOR of 1,480 Mcf/barrel.
It is apparent that MPA-1 is an excellent oil well, as evidenced
by the high flowing wellhead pressure, strong flow rate, healthy
GOR and the absence of formation water. Carmanah believes that as
the well continues to clean up, minimal adjustments to surface
facilities and the eventual installation of a larger choke could
result in further production gains being realized at MPA-1.
With this new well onstream, production at Camar is currently
ranging between 4,400 and 4,700 barrels of oil per day, prior to
any contribution from CN-3. CN-3 is expected to commence
production shortly, as priority in the field has been directed to
MPA-1. With these higher volumes, Carmanah expects liftings will
now occur each month, with the next lifting of approximately
160,000 barrels scheduled for September 24, 1998. New reserves and
the higher production level which has resulted from the 1998
capital program will significantly extend the economic life of
Camar and will result in higher netbacks, positive cash flow and
improved profitability on a going forward basis due to the fixed
nature of the field's operating costs.
Carmanah Resources Ltd. is a Calgary-based international oil and
gas company. In addition to its stake in the Bawean PSC and Camar
Field, Carmanah holds an 80 percent interest in the Langsa
Technical Assistance Contract offshore Sumatra, anticipated to
come onstream in early 1999 at production rates up to 15,000
barrels of oil per day. It also operates the Northeast Natuna
Production Sharing Contract, an exploration block in northern
Indonesian waters. Carmanah is also a 23.4 percent non-operating
participant in the Onado Area and field, onshore Venezuela, where
well workover activity and new drilling is currently underway.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Carmanah Resources Ltd.
Mr. R. A. Gusella
Chairman & Chief Executive Officer
(403) 266-4975
(403) 266-5042 (FAX)
carmanah@cadvision.com
or
Carmanah Resources Ltd.
Mr. A. F. Badwi
President & Chief Operating Officer
(403) 266-4975
(403) 266-5042 (FAX)
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