Arrow Exploration Corp. press release
Successful testing of Breagh appraisal well 42/13-5z
TSXV - TSX Venture Exchange · Oil · Natural Gas · Canada
CALGARY and LONDON, Jan. 22 /CNW/ - Stratic Energy Corporation (TSX Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") announces the successful testing of the Breagh horizontal well 42/13-5z on Block 42/13 in the Southern North Sea.
The well tested dry gas at a maximum rate of 26 million standard cubic feet per day (mmscfd) from a number of perforations at various intervals along a horizontal sand section of 1,200 feet and confirms the economic benefits of utilising conventional horizontal wells in the development of the field. The well will be suspended as a future production well.
The well test results will now be incorporated into the partnership's reservoir model to optimise the well requirements for the development. The operator's geological mapping work, which will be updated for the results of the 42/13 - 5 and 5z wells, is expected to show an increase in gross rock volume in excess of 20% to its previous estimate.
Mark Bilsland, Chief Operating Officer commented: "This well successfully completes the appraisal programme on the Breagh field commenced in August 2008. The first well in the programme confirmed the extension of the original discovery to the east, and this well has demonstrated the value of horizontal completions in providing a commercial solution for the development of the field. The partnership will now proceed towards completing the development plan for the field for submission and approval later this year."
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.
Stratic's Chief Operating Officer, Dr Mark Bilsland BSc (geology), PhD (petroleum petrophysics), and member of the SPE, is the qualified person who has reviewed and approved the technical information in this announcement for the purposes of the AIM Rules for Companies (incorporating the Guidance Note for Mining, Oil and Gas Companies).