🕐29.09.10 - 02:27 Uhr
Kairiki Energy - Tindalo Interim Test Results
ASX Announcement
29 September 2010
Tindalo Interim Test Results
Please refer below to the ASX release of Nido Petroleum Limited, SC 54A
Operator, for further details.
Nido Petroleum Limited (ASX:NDO), as Operator of Service Contract 54A (SC
54A), is pleased to provide interim results from Tindalo-1ST1.
As advised, oil flow from Tindalo-1ST1 commenced Sunday, 26 September and
whilst the well start-up plan is not yet complete, the following interim
results can be confirmed:
* the plan for well start up calls for 4 acid "soaks" using the coiled
tubing unit with well testing following each soak to evaluate the resulting
productivity increase;
* the first acid soak was completed on Sunday, 26 September, following
which, flow rates approximately 3,000 barrels of oil per day (bopd) were
observed at less than 1% watercut and a flowing tubing head pressure (FTHP)
of 27psi;
* the second acid soak was undertaken on Monday, 27 September, and
demonstrated a productivity increase to approximately 5,000 bopd at less
than 1% watercut and a FTHP of 57psi;
* as per the plan, additional acid stimulation and well testing will be
undertaken in the coming days to further increase and evaluate well
productivity; and
* dry oil has been produced after the initial well clean-up in each of the
two flow periods, and this is being exported and stored aboard the Tove
Knutsen.
Commenting on the initial results, Nidos Deputy Managing Director, Ms
Joanne Williams said "We are undertaking a prudent, staged approach to the
acid treatment of the sidetrack which is designed to ensure we achieve
optimal well productivity.
We have 4 acid soaks planned in total with a
further 4 available to us as a contingency option.
We will follow each acid
soak with well testing and analysis to determine whether any additional
acid treatment is required to optimise production.
First and foremost
though, I am very pleased to see dry oil being produced from the Tindalo
field once again."
Nido will provide a further update on the progress the in-field operations
this week once the detailed analysis of the initial flow testing of the
sidetrack has been completed.
To read the full announcement please click here.
http://www.stocknessmonster.com/news-item?T=F0l4q4kHqcTLkMCUpV37iD&E=ASX&S=KIK&N=507067
For more information please contact:
Dr Mark Fenton
Managing Director
Kairiki Energy Limited
Tel: 61 (8) 9388 6711
James Harris
Professional Public Relations
Tel: 61 (8) 9388 0944
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