RE: Attis12 Apr 2019 10:05
Attis: 29/1/2019 RNS is more accurate:
Mayan has entered into a Contract Operating Agreement and Joint Operating Agreement with associated accounting provisions in accordance with the Association of Petroleum Landmen Model JOA with Attis Operating I Inc ('Attis') to operate the Austin Field and undertake a seven-well development package. As mentioned previously, Attis is an experienced US oil & gas operator based in Texas and the UK. It has successfully developed a dedicated and dynamic on ground team and currently owns and operates 100 oil and gas wells as well as managing compliance, testing and accounting for a further 500 wells in Texas.
In February 2019, Attis will mobilise equipment and personnel to the Austin Field in order to begin to test fluid flow and origin, service and/or replace downhole equipment, service topside equipment, and, revitalise production at the Montsanko #1 and Morris #1 wells.
The newly acquired Montsanko #1 well is understood to be a high fluid volume production well. Our plan is to conduct a production test, analyse the oil/water entry ratio and replace the existing electric pump with a pump-jack. Its our belief that this should increase production efficiency whilst still allowing the integration of existing infrastructure.
We plan to conduct testing and rework on the Morris #1 well, including integrity testing and likely replacing the downhole pump. The Morris #1 well has production separation units and fluid storage tanks available.
Mayan has additionally acquired, at no cost, the recently reworked Montgomery SWD well and tank battery. Recent review and appraisal of the infrastructure demonstrated that, subject to minor service work, it is fit-for-purpose to undertake the testing and rework scope. Attis intends to integrate fluid storage and water disposal for both Morris #1 and Montsanko #1 to the Montgomery SWD and tank battery.
Following completion of the work-overs at Morris #1 and Montsanko #1 it is proposed that Attis will mobilise equipment to the Edwards, Garrison and Ritchie-Talley (previously wells within the Austin Chalk well package). Again, the purpose of the operation will be to test fluid flow and origin, service and/or replace downhole equipment, service topside equipment, and, return the wells to production.
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