Zenith Energy Ltd Team B strikes success at well M-45 (8446J)
03 7월 2017 - 3:00PM
UK Regulatory
TIDMZEN
RNS Number : 8446J
Zenith Energy Ltd
03 July 2017
Press Release July 3, 2017
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Team B strikes success at well M-45
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V:
ZEE), the dual listed international oil & gas production
company operating the largest onshore oilfield in Azerbaijan, is
pleased to provide a positive update on operations at well M-45 in
the Muradkhanli field.
Well M-45
The company has continued operations with the third party
workover rig defined as Team B.
Team B has been able to catch the tubing on well M-45 which has
opened up the productive zone. The well has since been stimulated
and is flowing 46 BOPD. Due to the smaller sized casing above the
production casing, the entire fish was not able to be pulled and
was left in the hole. However, the productive zone is now open and
the well can be produced. This was an overall success for team
B.
The predicted production using an inflow production curve on
this well shows that the Company should be able to produce 150
BOPD. The Company will test the well using compressed gas to obtain
the necessary parameters to design the optimal Electric Submersible
Pump (ESP) for M-45. The ESP is expected to be installed in the
third week of July.
Zenith is now defining the next two wells to be worked on and
will in due course make an announcement on the wells selected with
their respective production histories.
Mike Palmer, Chief Operating Officer, Zenith Aran, the Company's
Azerbaijan-based fully owned subsidiary, commented:
"I am very excited about the successful flow achieved at M-45.
It has been a lot of hard work and we are happy to be able to move
on to other workovers. We can now progress with our workover
programme and have selected a series of high impact wells. We look
forward to the next phase in the Company's field development."
For further information, please contact:
Zenith Energy Ltd.
José Ramón López-Portillo
Chairman
Andrea Cattaneo
CEO & President
Email: info@zenithenergy.ca
Telephone: +1 (587) 315 9031
Telefax: +1 (403) 775-4474
Allenby Capital Limited - (Joint Broker)
Nick Harriss
Nick Athanas
Richard Short
Telephone: + 44 (0) 203 328 5656
Optiva Securities - (Joint Broker)
Christian Dennis
Telephone: + 44 (0) 203 137 1903
This information is provided by RNS
The company news service from the London Stock Exchange
END
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