Kenai Loop 1-4 Well - Additional Production Test Data
Sydney, Oct 17, 2013 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) (BCGYF:OTCMKTS) ("Buccaneer" or "the Company") advises that the absolute open hole flow potential ("AOFP") of the perforated 24' section of the 9,700' sand in the Kenai Loop # 1-4 well is 11.5 million cubic feet per day ("MMCFD").
The perforated section successfully flowed at a rate of 5.9 MMCFD on a 20/64" choke with a flowing tubing pressure ("FTP") of 2,525 psi and no water detected. Gas was flared at the location.
The Company believes that the 24' section that was tested will produce at a stable rate of 4.5 - 5.0 MMCFD.
If the Company decides to test additional prospective zones intersected while drilling, this testing can be completed using a smaller rig. The Glacier rig is being prepared to be mobilised to the West Eagle Unit site, which is approximately 100 miles to the south of Kenai Loop, the West Eagle drill site is ready to commence drilling operations on arrival of the Glacier rig.
Contact
Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com
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