(Alliance News) - Block Energy PLC said Tuesday well WR-38Z at its flagship West Rustavi field in Georgia is flowing naturally.
Block said the well is now ready for production testing. The company has also prepared nearby well WR-51 for a horizontal sidetrack.
"Following a short period of swabbing, WR-38Z is flowing naturally. The company has installed and commissioned new production test equipment sourced from North America and will now commence a multi-rate production test extending over several weeks," Block said.
The company also noted well WR-16aZ will be temporarily shut in whilst production facilities are improved in the field. The well is expected to return to production in January 2020.
Chief Executive Paul Haywood said: "We're pleased to confirm that operations at WR-38Z continue to proceed smoothly, with the well now flowing and ready for production testing. We look forward to updating the market on the results from the multi-rate production test. Furthermore, we are excited to have completed our 3D seismic acquisition and eagerly await the results of the processed data set, which will enhance our understanding of the reservoirs."
Shares in Block Energy were up 3.4% in London on Tuesday at 4.70 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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Block Energy P. (BLOE)