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NEW ORLEANS (AFP)--Engineers monitored a newly capped BP PLC (BP, BP.LN) oil well in the Gulf of Mexico on Sunday amid cautious optimism the months-long spill behind one of the worst environmental disasters in U.S. history has been finally contained. The tests, which involve multiple pressure readings on the wellbore that runs to the oil reservoir below the seabed, have provided "valuable information" and will continue into Sunday, Coast Guard Adm. Thad Allen said. Once the analysis is complete, the British energy firm will open the new cap and resume siphoning off the oil to two production vessels on the sea surface, he added. BP said Saturday that the cap placed over the gushing wellhead was still holding back spilling crude, but the results of tests on the well's structure required more analysis. "We're feeling more confident that we have integrity," BP senior vice president Kent Wells told reporters. The tests began Thursday after valves on the cap were sealed, choking off the flow of crude into the Gulf for the first time since the spill began in April. Allen said that pressure in the capping stack was continuing to increase "very slowly and we want to continue to monitor this progress." BP also brought in a ship from the National Oceanic and Atmospheric Administration to survey the area. If there was a leak, BP would have to open the valves holding back the oil, and allow the crude to once again flow freely into the Gulf, experts said. The oil firm plans to eventually reach a total collection capacity of up to 80,000 barrels per day--more than the estimated volume of the spill. The containment cap is a temporary solution to the broken well, which spewed oil into the Gulf for months following the April 20 rig explosion. Progress continues on two relief wells, expected to be completed in mid-August, which Allen recalled are "the ultimate step in stopping the BP oil leak for good." Company officials said they had come within five feet (1.5 meters) of the original well casing Saturday, and that the kill procedure could begin as early as August. "We're feeling very good at this point about how the well is lining up," Wells said. However, The New York Times reported Saturday that with the encouraging news from the test, there had been discussions about leaving the well shut and changing the method of permanently sealing it. Citing an unnamed technician involved in the discussions, the newspaper said engineers had discussed stopping work on the relief well in favor of a "bullhead kill." In that operation, heavy mud would be pumped in through existing pipes and the oil and gas would be forced back into the oil reservoir at the bottom of the well, the report said. (END) Dow Jones Newswires July 18, 2010 06:17 ET (10:17 GMT)