Zenith Energy Ltd Successful workover of ROB-1, onshore Tunisia (1088Q)
25 10월 2021 - 3:00PM
UK Regulatory
TIDMZEN
RNS Number : 1088Q
Zenith Energy Ltd
25 October 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
October 25, 2021
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Successful workover of ROB-1, onshore Tunisia
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE:
ZENA), which is focused on building a production and development
portfolio in Africa, is pleased to announce that the workover of
the Robbana-1 well ("ROB-1"), located within the Robbana concession
in Tunisia has been successfully completed.
Workover of ROB-1
As announced on October 12, 2021, prior to the commencement of
workover operations by Zenith, ROB-1 had not undergone any form of
work since 2012, at which time an unsuccessful well intervention
had been performed and the well was producing approximately 20
BOPD.
During the course of the workover, significant deposits of
paraffin and wax were encountered plugging many of the lower
perforations. These have now been cleared by way of reverse
circulation of fluid.
The wellbore of ROB-1 was cleaned out to the total depth of
2,225 metres and scraping of the casing, which was found to have
good integrity, was performed. Once this work was finalised, a new
tubing anchor and sucker rod pump supplied by Weatherford were
installed. It was discovered that the previous sucker rod pump was
functioning at only 20% capacity and that the well did not have a
tubing hanger installed, in contradiction of the 2012 well
report.
The Company can now confirm that a Weatherford team has
successfully installed a new sucker rod pump in ROB-1, which has
been tested on surface and adjusted. A period of 36-72 hours is now
required to pump out the well killing fluid and water emulsion from
the wellbore before oil production will begin to be received.
Andrea Cattaneo, Chief Executive Officer of Zenith,
commented:
"We are very pleased with the successful outcome of the ROB-1
workover which has been our inaugural operational engagement in
Tunisia. Our team successfully executed the workover and garnered
significant insight into the potentially very material upside
potential of the Robbana concession.
Third party geophysical analysis suggests that the Robbana
concession has potentially only produced 5-10% of its reserves
potential to date.
We intend to report flow rates from ROB-1 shortly, once they
have stabilised, and we remain cautiously optimistic about the
relatively sizeable production uplift we may be able to achieve
from ROB-1 against a backdrop of a highly favourable oil price
environment."
Further Information:
Zenith Energy Ltd Tel: +1 (587) 315 9031
Andrea Cattaneo, Chief Executive E: info@zenithenergy.ca
Officer
Allenby Capital Limited - Financial Tel: + 44 (0) 203 328 5656
Adviser & Broker
Nick Harriss
Nick Athanas
------------------------------
Celicourt Communications (Financial Tel: +44 (0) 208 434 2643
PR) E: zenithenergy@celicourt.uk
Mark Antelme
Jimmy Lea
------------------------------
Notes to Editors :
Zenith Energy Ltd. is an international oil and gas production
company, listed on the London Stock Exchange (LSE:ZEN) and the
Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).
Zenith's development strategy is to identify and rapidly seize
value-accretive hydrocarbon production opportunities in the oil
& gas sector, specifically in Africa.
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END
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