XCITE ENERGY LIMITED : London, 19 April 2012 Xcite Energy provides Bentley Phase 1A update
04/19/2012| 02:28pm US/Eastern
Recommend:
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT
LAWS OR REGULATIONS OF SUCH JURISDICTION
TSX-V, LSE-AIM: XEL
19 April 2012
Xcite Energy Limited
("Xcite Energy" or the "Company")
Operations Update and Bentley Phase 1A Work Programme
The Company is pleased to provide an update to the market in
respect of the current drilling operations and the Bentley
Phase 1A work programme.
Current Operations Update
As previously announced, the well was spudded on 18 March
2012, with 20 inch casing now having been set down to
approximately 2000ft below the rotary table. Preparations are
being made to set the blow out preventer and to continue the
drilling of the 17.5 inch hole.
Summary of Bentley Phase 1A Work Programme
Following the successful completion of the 9/03b-6 and 6Z
wells (as announced in December 2010), the Company has
invested significant resources designing and engineering the
next phases in the development of the Bentley field, the
Phase 1A and Phase 1B work programmes.
The Bentley Phase 1A Work Programme has two principal
objectives:
1. The 9/03b-7 and 7Z wells are planned to demonstrate
the mechanical and operational aspects of the drilling,
completion and flowing of the proposed well design for Phase
1B. The 9/03b-7Z well is planned to be used in Phase
1B as the first full production wellbore.
2. To collect additional reservoir and production data
to improve the calibration of the reservoir model, including
data with respect to enhanced oil recovery techniques. This
data with be used to further increase the certainty with
respect to the longer term oil, gas and water production
profiles and recoverable reserves from the Bentley
field.
The Phase 1A work programme on the Bentley field has been
planned to achieve the two principal objectives set out above
and comprises the following key operations:
Recommend :
