Reabold Resources Share News (RBD)

(Sharecast News) - Reabold Resources updated the market on well flow test operations at the Iecea Mica-1 (IMIC-1) well in Romania on Tuesday, reporting that the remobilisation of the wireline crew and further diagnosis work, including down hole pressure measurement and sampling of reservoir fluids using wireline, was planned for 27 July after the reinstatement of some lockdown restrictions in the country.
The AIM-traded firm said the work programme was being carried out by Danube Petroleum, which has a 100% interest in the Parta Sole Risk Area and would, on completion of the farm-out to Tamaska Oil & Gas, have a 50 per cent. interest.

Reabold holds a 50.8% equity interest in Danube, while ADX Energy is the operator of IMIC-1.

It said down hole fluid sampling had recovered methane gas and drilling fluids from the reservoir, adding that pressure build up at the surface indicated a "gradual influx" of the gas from the reservoir, resulting in pressure at the well head increasing to 1650 psi from 780 psi.

Acidisation equipment had been sourced to stimulate the well, in order to create a flow path for gas from the reservoir to the wellbore.

Reabold said detailed rock typing had identified calcite and siderite cement in the reservoir, which otherwise had "excellent" parameters, with matrix porosity at just over 20%.

It explained that acidisation could dissolve more than 20% of the cement, and was commonly used in such reservoirs in western Romania.

"The reinstatement of Covid-19 quarantine requirements in Romania has caused a short delay to the ongoing well flow testing programmes at the IMIC-1 well site onshore Romania," the board said in its statement.

"The Hungarian wireline contractor required to undertake ongoing pressure measurement and sampling of reservoir fluids on the well has been delayed from returning to site due to these requirements.

"Positive indications of methane gas have been observed from down hole sampling which recovered methane gas and drilling fluids from the reservoir based on laboratory compositional analysis."

Reabold said the recovery of drilling fluids was a further indication of mud filtrate build up.

"Ongoing pressure build up has been monitored at surface indicating a gradual influx of gas from the reservoir.

"The well head pressure during the past 16 days has increased from 780 psi to 1650 psi.

"ADX, the operator of the well, has sourced all necessary acidisation equipment in Romania to stimulate the well and perform the test. Injection of acid into the reservoir is intended to create a flow path for reservoir gas beyond the previously announced mud filter cake build up around the well bore while drilling and possible invasion into the reservoir."

The board added that acidisation was a "common practice" for such reservoirs in Romania, with the equipment required readily available.

"Laboratory testing indicates that over 20 per cent. of the reservoir cement can be dissolved by acid.

"The wireline contractor is expected to be back on site on 27 July to resume pressure monitoring operations on the well.

"The results of down hole pressure monitoring will be required to determine future flow testing operations and programmes."

At 1027 BST, shares in Reabold Resources were up 1.61% at 0.57p.