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25 Oct 2012 07:00
Exillon Energy plc
Drilling Update
25 October 2012 - Exillon Energy plc, a London Premium listed independent oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), is pleased to announce a drilling update.
Exploration well EWS I - 60
Exploration well EWS I - 60 was designed to test a 4.1 sq km north-west extension of the EWS I field. The new discovery contained pre-drill estimates of 2.3 million barrels of possible reserves (Miller and Lents, March 2012 reserve report).
The well was spudded on 20th September 2012 and drilled and cemented in 23 days. The well encountered the Jurassic P reservoir at 1,837 metres, confirming 11.9 metres of effective vertical net oil pay. In addition, the well encountered PJC reservoir at 1,853 metres, confirming a further 1.6 metres of net pay.
The well flowed water-free oil naturally to the surface with a test flow rate of 767 bbl/day on an 8 mm choke. The well was drilled 0.5 km north-west of Pad 6, and is now connected to our existing production facilities.
Exploration well EWS I - 60 is the second well drilled from Pad 6, following an earlier well EWS I - 61 announced on 8 June 2012. Although well EWS I - 61 discovered 9.5 metres of Jurassic P reservoir, the Group was unable to test this well for production due to technical reasons related to a 1.6 km deviation from the Pad. The results from well EWS I - 60, however, significantly de-risk the prospect of future development drilling in the area.
Media contact:
Tom Blackwell
Blackwell@mcomgroup.com
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