Primeline Energy Holdings Inc. (Primeline or the Company) announced Wednesday that it has completed the drilling operations of the LS23-1-1 well in Block 33/07 in the East China Sea and will now continue with the exploration drilling program for the LS30-3-1 well.
The LS23-1-1 well was spud Sept. 23 and reached total depth (TD) of 8,747 feet or (2,666 meters) Oct. 21 and wireline logging data was subsequently acquired. The well encountered sandstone units of Paleocene and early Cretaceous age, drilling through the geological sequence as anticipated and finished in basement rock. It discovered several zones of gas bearing sandstone and evaluation of logging data indicated total cumulative net pay thickness of 46 feet (14 meters). The LS23-1 prospect is a technical discovery of hydrocarbon but not likely to be a commercial discovery. Therefore Primeline has plugged and abandoned the well and will proceed with the drilling of the LS30-3-1 well on the basis of the agreed two well work program.
LS30-3-1 is located approximately 12.4 miles (20 kilometers) north of the LS36-1 gasfield platform and is targeting a large channel sand prospect. The prospect was originally mapped in 2009/2010 and refined during the 2014/2015 evaluation. The planned TD of the well is 5,906 feet (1,800 meters), targeting the same reservoir as that of the LS36-1 gasfield.
The drilling rig HYSY941 or COSL 941 (400' ILC) is currently conducting the final operations for the LS23-1-1 well. Once completed, Primeline’s contractor China Oilfield Service Ltd. (COSL) plans to mobilize the rig to the LS30-3-1 location subject to weather and sea conditions, allowance for necessary equipment maintenance and preparation and approval of the operation licence. A separate announcement will be made when the drilling operation of LS30-3-1 commences.
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