11 Jun 2014 07:00
Immediate Release 11 June 2014
GLOBAL ENERGY DEVELOPMENT PLC
(the "Company" or "Global")
SIMITI FORMATION TEST - BOLIVAR CONTRACT AREA
Global Energy Development PLC, the Latin America focused petroleum exploration, development and production company (AIM: GED) with operations in Colombia, announces an update on the Catalina #1 well test in the Company's Bolivar Association Contract ("Bolivar Contract") located in the northern section of the Magdalena Valley in Colombia, South America.
Further to its announcement of 19 May 2014, the Company confirms that all subsurface pre-stimulation operations on the Catalina #1 wellbore have now been completed, including the installation of high pressure wellhead equipment and stimulation tubing. In addition, approximately 54 individual depths within the Simiti formation have been perforated, selected on the basis of sandstone development and natural fracture frequency, which is expected to result in substantially all of the Simiti formation thickness, measuring 646 feet in total, being stimulated. Upon perforating there was immediate loss of completion fluid into the Simiti, indicating favorable natural fracture and/or matrix permeability, the levels and density of which indicate above normal pressures. Surface stimulation operations are expected to commence within the next week.
Steve Voss, Global's Managing Director, commented, "The Company is pleased with the progress made to date in completing all subsurface well preparation actions necessary for stimulation of the Simiti formation to proceed shortly. All necessary surface equipment including a high volume test manifold, separators and hydraulic fracturing pumps are now being installed in and around the Catalina #1 wellbore in preparation for the stimulation of the well."
For further information please contact
Global Energy Development PLC
|
Northland Capital Partners Limited | |
Louis Castro | +44 (0)20 7796 8800 |
Lauren Kettle