Zeta Expects Jimbolia-100 Well to Hit Target Depth in 5 Days

Romania-focused Zeta Petroleum reported Thursday that the operator of the Jimbolia oil concession in Romania, NIS Petrol SRL, has advised it that the Jimbolia-100 appraisal well has now been drilled to its second casing point depth of 7,887 feet (2,404 meters). Casing has been run and cemented to a depth of 7,845 feet (2,391 meters).

Zeta said that, subject to confirmation of a successful cementing job, the well will be logged before drilling through the targeted oil reservoir and ahead to the target depth of 8,497 feet (2,590 meters). It is expected that the target depth will be reached within the next five days, with a further 15 days required to complete logging and testing operations. If successful, Jimbolia-100 will be completed as a production well.

The well is targeting the Jimbolia Veche oil discovery, which has two hydrocarbon-bearing intervals and a current mean contingent resource of 1.7 million barrels.

Zeta holds a 39-percent stake in the concession.


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