RPT.L Share News (RPT)

(Sharecast News) - Oil and gas exploration and production group Regal Petroleum announced further testing results of the VAS-10 well located at its Vasyschevskoye (VAS) gas and condensate field in Ukraine on Wednesday.The AIM-traded firm said the VAS-10 well was spudded in March, and drilled to a depth of 3,380 metres.It said the well is located to the north-west of the field, at an offset of about one kilometre from the nearest producing well, and targeted two reservoir zones in the Visean formation - the B-16/17 and the deeper B-25/26.The B-16/17 reservoirs were currently the main production horizons in the VAS field.Initial tests on one interval, at a depth of between 3,319 and 3,324 metres, within the B-25/26 reservoirs, were performed, but after initial encouraging gas flow, that interval was not able to establish a stabilised flow rate, Regal explained."As a result, testing of the shallower B-17 reservoir has been performed," the company's board said in its statement.Two intervals in the reservoir, between 3,300 and 3,304 metres depth, and between 3,282 and 3,288 metres depth, were perforated, and initial testing of those intervals was undertaken using a variety of choke sizes."During this testing, strong gas and condensate flows were recorded and accordingly, the well has been hooked up to the gas processing facility to allow longer-term production testing to be conducted to optimise the operating parameters of the well."Currently, the well is producing at a stabilised flow rate of approximately 55,000 cubic metres of gas per day, and 10 cubic metres of condensate per day."