The Angowice-1 is planned to drill to a total depth of approximately 3,400 meters with multiple targets in the middle and lower Zechstein and the upper and middle Devonian. The well is testing one of four structural features clustered in an area approximately 12 kilometers northwest of the Tuchola field.
"The Tuchola field wells have superb flow rates and the value of the production stream is impressive," said Andy Pierce, the Company’s Vice President of Operations. "The 3-D seismic shows there are more and larger targets with potential for stacked pay, and provides strong evidence that the Tuchola field may be much larger than originally interpreted. All the data we have seen to date from the Edge license are consistent with a new production system that could be extensive. We need more wells to confirm this idea and to assess the full potential and risk profile of the play. The Angowice-1 well is the first of several wells that we plan to drill in the Edge license over the next twelve months."
The Company’s Tuchola field and the four Angowice area structures all are situated within a 240 square kilometer (60,000 acre) area covered by new 3-D seismic. The Company has identified other prospects in this 3-D seismic area that are under consideration for drilling in 2015. In addition, the Company currently is acquiring a further 300 square kilometers (75,000 acres) of 3-D seismic within the Edge license. The Edge license covers approximately 730,000 acres. The Company operates and owns 100% of the working interest.
Tuchola Field Development
The Company also announced that it has awarded a contract to Tebodin Poland, a division of the Bilfinger Group, to design and manage the permit, tender and construction operations of the Tuchola field production facility and pipeline. The Tuchola production facility will process approximately 10 million cubic feet of gas per day. The gross gas stream will be processed and separated into four economic products: high methane gas, condensate, helium and liquefied natural gas (LNG). The Company has acquired the site where the production facility will be built and has selected pipeline routes. The Tuchola facility is scheduled to start production in the first half of 2017.
Tebodin Poland is a multi-discipline engineering and consultancy company and is part of the Bilfinger Group founded in the Netherlands in 1945. Headquartered in Mannheim, Germany, they employ approximately 5,000 professional staff with 50 offices in 25 countries.
