The company has completed the first phase of operations on the Pg-11 well in the Petisovci project and encountered gas in all of the six Middle Miocene Badenian reservoir targets.
Gas and condensate were also sampled from the Lower Miocene Karpatian reservoir and gas flowed for the first time from the shallowest ‘A’ sands.
The company said that next phase of the operations depends on the analysis of the log and core data, and the rig will remain on location so a horizontal production sidetrack can be drilled.
Ascent Resources managing director Jeremy Eng said the results from the Pg-11 appraisal well, which reached its planned depth of 3,050m last week, have exceeded the company’s expectations.
"These results substantially de-risk the project and underpin its commercial potential," Eng said.
Ascent Resources holds a 75% interest in the Petisovci project.
