DNO International ASA - DNO is today reporting initial results from the testing of Yaalen-3, in the Republic of Yemen.
10.05.2010 | Globenewswire Europe
DNO International ASA("DNO" or "the Company")
DNO is today reporting initial results from the testing of Yaalen-3, in the
Republic of Yemen.
The first test in Yaalen-3 flowed 1,400 barrels of oil per day, with no water.
The test rate was restricted by the equipment used during the test, and the
Company expects that this interval has the capacity to flow in the order of
4,000 - 5,000 bopd.
As previously reported, the Yaalen-3 appraisal well in Block 47, Yemen was
drilled to a total depth of 1.898 meters. The well encountered two oil bearing
intervals in the Qishn sandstones, of a total combined net thickness of around
20 meters ("net pay"). Two tests will be undertaken in the well, one in each of
the oil bearing intervals.
The first test was undertaken in the lowermost interval. This interval flowed
around 1,400 barrels of oil per day (bopd), with no water. The flow rate was
restricted by the electrical down hole pump used during the test. Based on the
flow and pressure data observed during the test, it is anticipated that the
initial flow capacity of this reservoir interval is in the in the range of
4,000 - 5,000 bopd. No formation water was observed during the test. The well
proved the reservoir thicker than expected and the oil reserves potential in the
structure will be improved.
The forward plan is to undertake one test in the uppermost reservoir interval.
This interval is expected to have similar reservoir characteristics compared to
the interval already been tested.
Drilling of the Yaalen-3 appraisal well is part of the work program in
preparation for a development of the Yaalen & Sharnah oil discoveries in the
block. As previously reported the combined gross recoverable resource potential
of these two oil discoveries prior to this oil test was 10 million barrels. The
resource potential will be re-evaluated based on the final results from
Yaalen-3. A second well on the Sharnah discovery is planned to be drilled
towards the end of the second quarter.
With the positive results observed in Yaalen-3, DNO intends to accelerate the
development of this area where the first step is to file a development plan with
the Yemen authorities. DNO holds a 40 % interest in block 47.
DNO International ASA
10 May, 2010
Contact:
Media:
Helge Eide, MD DNO International ASA Telephone: +47 23 23 84 80
Ketil Jørgensen, Crux Communication Telephone +47 930 36 866
(Norway)
Mark Edwards, Buchanan Communications (UK) Telephone: +44 207 466 5000
Investor Relations:
Haakon Sandborg, CFO DNO International ASA Telephone: +47 23 23 84 80
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1413972]
Unternehmen: DNO International ASA - ISIN: NO0003921009
