PCI global email3 Oct 2011 12:02
Global mail to investors.
• The well is located 5km north east of AT-1 and 4.5km North West of the AT-5 well in an undrilled section of the field. It was located based on 3D targeting a structural pop-up feature, and specifically the damage zone of an interpreted seismic fault with the expectation of encountering natural fractures and improved reservoir. All of these objectives were achieved and each has contributed to the flow rate achieved.
• Following the logging an open hole packer multi-stage completion was run with three separate zones isolated for individual testing. These open hole zones are Upper Ordovician (1499-1510m TVDSS), Middle Ordovician (1511-1521m TVDSS) and Lower Ordivician (1522-1550 m TVDSS).
• All three zones have now been tested without perforation or fracture stimulation. We will now proceed to frac the upper zone, however we expect that a frac on this horizon may also give us access to improved flow from the middle zone.
• We were particularly encouraged by our ability to eliminate the small amount of water production from the lower tested zone by reducing the pressure drawdown across the reservoir. This bodes well for our ability to manage possible future fracture water production in this field, and will have a positive impact on our estimate of recoverable gas reserves.
• As we have moved through the programme we have progressively tried to minimise the potential for formation damage and improve our flexibility for well testing selective zones and enhancing well test data analysis. Our open hole multi-stage completion has performed well in this test and has provided the flexibility to selectively test specific intervals in the pre and post frac condition of the well significantly adding to our understanding of the reservoir. This novel technology has been run on AT-7, which is the next well to be tested and will be run on well the final well in the program AT-9 which is currently being drilled.
• The AT-8 result to date is the best pre-frac cumulative flow rate achieved by Petroceltic on Ain Tsila, but due to slightly different test techniques is hard to compare directly to AT-1 (AT-1 was cemented and perforated pre-frac, this is an open hole test without any perforations). We would, however, expect hydraulic fracturing to provide a further uplift to the flow rate.
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