Completion of Pilot Well Operations
Friday 9 September 2016
Hurricane Energy plc, the
Preliminary third party analysis from the Pilot Well indicates:
· A very significant hydrocarbon column of at least 620 metres is present within the basement extending well below structural closure (which is 1,380 metres TVDSS) confirming Hurricane's reservoir model for the
· Provisional analysis indicates a minimum oil down to ("ODT") at 1,620m TVDSS, 240 metres TVD below structural closure. In addition, wireline fluid samples have demonstrated mobile oil of a gravity consistent with
· The penetrated aquifer interval is porous and permeable.
· Wireline and well test data indicates that there are no pressure barriers detected in the reservoir.
· DST testing of the basement reservoir yielded a maximum, natural flow rate of 6,600 bopd and a maximum flow rate of 11,000 bopd (artificial lift with an electrical submersible pump) of good quality 38 API oil with no formation water produced. This flow is interpreted as predominantly emanating from a single fracture zone connected to the underlying basement.
The next stage of operations involves drilling of the Horizontal Well. This is designed to provide a second future production well and additional information to help optimally plan the
Hurricane will announce its interim results on 22 September 2016.
Dr Robert Trice, Hurricane's CEO, commented "I am delighted that the Pilot Well has confirmed a significant oil column deeper than the 2C Case set out in the Company's CPR. Our initial assessment of the well results, which are subject to refinement of the provisional data, suggest that the
The combination of high flow rates, an extensive oil column and underlying aquifer materially de-risks Hurricane's plans for a future