100bcf additional?23 Apr 2019 21:41
The Company announced on 16 February 2011 the results of its first appraisal well in the Petišovci project area in Slovenia in which the Company has a 75% working interest. RPS, independent reservoir engineers, have estimated P50 gas in place for the Petišovci/Lovási/Ujfalu project of 412 Bcf.. The Pg-11 well, the first drilled in the Petišovci-Globocki field in 22 years, targeted six middle Miocene reservoirs, all of which were intersected and found to be gas bearing which, in the Directors' opinion, underpins the commercial potential of the project. In addition, Pg-11 encountered the Lower Miocene Karpatian reservoir from which gas and condensate were sampled and flared. The Directors expect that this additional, potentially naturally fractured reservoir, could contain additional resource potential of over 100 Bcf..