22 Mar 2012 07:00
ENEGI OIL PLC
AIM ticker: 'ENEG'
OTC ticker: 'EOLPF'
22 March 2012
Enegi Oil Plc
('Enegi' or 'the Company')
Garden Hill South Operational Update
Further to the release dated 1 March 2012, Enegi wishes to provide an update on its operations at Garden Hill South. The Company is pleased with initial results from the workover, the program is continuing as planned and the PaP#1-ST#3 well ("the Well") has been flowed using various choke sizes and the associated pressure response from the wellbore is being continually monitored.
The majority of the injected chemicals and spent acid have been removed with the lower water content seen recently indicating that this phase of the workover is nearing completion. Once all the injected chemicals and spent acid have been removed, the Well will be shut-in to allow the bottom hole pressure to recover prior to embarking on a long term flow test to determine the long term sustainable production rate.
Further updates will follow as the programme is executed.
Enegi Oil Tel: + 44 161 817 7460
Alan Minty, CEO
David Parry, Director Tel: + 1 604 568 0733
Cenkos Securities
Jon Fitzpatrick Tel: + 44 207 397 8900
Neil McDonald Tel: +44 131 220 9771
College Hill Tel: + 44 207 457 2020
Nick Elwes
Alexandra Roper
www.enegioil.com
Facebook (Enegi Oil PLC)
Twitter (@enegioil)
Qualified Persons
The information in this release has been reviewed by Barath Rajgopaul MSc (Mech. Eng.) C. Eng, a member of the Advisory Board of Enegi. Mr. Rajgopaul has over 29 years experience in the petroleum industry.
The Company
Enegi Oil Plc is an independent oil and gas company. Current operations are focused on opportunities around the Port au Port Peninsula in Newfoundland, Canada and the Clare Basin in County Clare, Ireland. The Port au Port Peninsula is located in western Newfoundland, which, although lightly explored, is in an active petroleum system with light oil having been discovered on a number of occasions. The Clare Basin is located in western Ireland and initial technical studies show that it has the potential to contain shale gas.