Friday 10 June 2022

The Cliff Head Joint Venture (CHJV) is pleased to provide the following update on its Cliff Head Operations (Cliff Head) in respect to the commencement of the Cliff Head 10 (CH-10) Workover campaign.

The CH-10 well was shut in, September 2021, due to a downhole electrical fault. This well had produced reliably for nearly 12 years with the same Electrical Submersible Pump (ESP) and this performance significantly exceeds the field average of 4 years.

Thursday, 9 June 2022, activities will begin on the CH-10 Workover to replace the failed ESP and increase hydrocarbon production from this well. Over the coming months, the CHJV will undertake a phased campaign to recover the failed ESP and replace it with a new ESP. In addition, a deeper water producing reservoir will be isolated, with the aim to increase oil production. The phased approach to this workover optimises the utilisation of the Hydraulic Workover Unit and budget spend in alignment with long lead item delivery schedules.

The CHJV expects the successful workover will produce an additional circa 130 barrels of oil per day (bopd) from CH-10 and see field production return to above 800 bopd.

Further updates will be provided as the workover progresses.

Triangle Managing Director, Mr Conrad Todd said “I am pleased to report to shareholders that The Cliff Head Joint Venture has commenced the CH-10 well workover. This will allow the CHJV to restore the production lost due to failure of the downhole pump and furthermore to increase production by shutting of water from a deeper reservoir.”