AED Oil updated on its current testing program at Brunei Block L and its forward plans for the Block.
Testing Update – Lempuyang-1
During the last few days, AED recommenced work in preparation for retesting of the Lempuyang-1 well. During this process, we have continued to experience mechanical and equipment issues with the well and have shut in the well. We will continue to assess the situation and will update the market once further information is available.
Lempuyang Testing Analysis
While the test results have not allowed a complete assessment of the Lempuyang-1 well thus far, AED is still encouraged by the results to date, including:
Phase-2 Exploration update
AED remains optimistic that the southern area remains a significant exploration objective. A recent evaluation of the Vertical Seismic Profile (VSP) data from the Lempuyang-1 well has shown that two potential reservoir horizons below the Total Depth of the well have not been intersected and remain untested. The recently acquired aerial gravity and magnetic survey over Block L highlights potential updip prospectivity east of our current 3D seismic.
We intend to focus on acquiring seismic over the Jerudong Field with the potential for oil development.
Phase 2 Work Program, 2011
In addition to the current testing program, AED currently anticipates that the following exploration activity will occur at Block L in the near term:
The Block L Joint Venture is made up of AED SEA (50% operating interest), Kulczyk Oil Ventures (40%) and QAF Brunei (10%).
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