This rate was achieved over a 36 hour test period with a drawdown of only 3.2 bar from Sarmatian sands at a depth of 456.5mt – 463.6mt, 7.1mt gross, 6.3mt net.
The company estimates that the gross recoverable gas reserves will be 2bcf over the life of the well and work will commence shortly on the installation of a 4km pipeline to the Bilca Gas Plant with first gas expected in the fourth quarter of 2010.
As a result of this discovery, Aurelian’s total production is expected to increase by 18% over the next seven years. Interests in the Suceava Block are Aurelian Oil & Gas (Romania) SRL 50%, Regal Petroleum 50%.
Rowen Bainbridge, chief executive, said: “We are delighted with the test results from this well. The reservoir appears to be very productive and as a consequence the test period has been limited to that required to demonstrate reserves and support an ‘application to develop’. Installation of the pipeline will now commence and we anticipate cash flow from this discovery in Q4 2010.”
