The drilling rig is now on the second location, Espino #1-2, to evaluate the 4500ft Plymouth Prospect. The well is expected to spud on March 26 and should take five days to reach planned total depth.
Following the drilling of the Espino #1-2 well, the rig will drill the Island Capitol #1-19 well to evaluate the 5000ft Bolton Prospect. A completion rig will be mobilized mid-April following the drilling of the Island Capitol #1-19 well. It has been determined that the use of a completion rig for the production testing of successful wells is more efficient and economic, the company said.
The Espino #1-2 and Island Capitol #1-19 are 10km south and 8km northeast of the ML Investments #1-10 discovery respectively. The three wells are on separate structures but testing common reservoirs. The drilling locations are based on reprocessed seismic as well as geological information from previously drilled wells.
The successful drilling of the ML Investments #1-10 has confirmed the seismic interpretation and provides reservoir information that will be incorporated into development drilling plans.
Subject to production test confirmation, log analysis and seismic mapping indicate that the ML Investments #1-10 has encountered 40ft conventional gas sand pay in two zones and a 400ft fractured shale interval. The completion program will establish the potential flow rates.
