The well will be drilled to a target depth of 3,900 meters and is anticipated to take approximately three and a half months to drill to target depth and test. The well is designed to evaluate the Permian Rotliegendes Sandstone, the main gas reservoir of the UK and Dutch Southern North Sea which stretches into central Europe, as well as the giant Groningen gas field. The Siekierki structure is a large seismic anomaly that was tested in the 1970s by four wells, all of which recorded some gas, but at non-commercial rates. The Trzek-1 well is designed to evaluate the performance of the reservoir using modern drilling and testing techniques which have been particularly successful in finding commercial hydrocarbons elsewhere in the Southern North Sea.
Energia Zachod Sp. z o.o. is 90% owned by Aurelian Oil & Gas PLC and 10% by Avobone S.A.
Further announcements concerning the Trzek-1 well will be made at intervals, generally following the main casing points. The next one can be anticipated after running the 9 5/8-inch casing at approximately 2,900 meters.
Michael Seymour, Managing Director of Aurelian Oil & Gas PLC commented:
"The commencement of this well is an important step for us and represents the start of a period of intense activity over the next few months during which we shall also be drilling four or five further wells in Romania and one in Bulgaria. Drilling in Romania at Radauti East-1 and at Golitza-1 in Bulgaria are both expected to commence in April." Aurelian Oil & Gas PLC was founded in December 2002 by current Managing Director, Michael Seymour. The Company's strategy was and is to explore for, appraise, develop and produce oil and natural gas reserves in Central Europe.
Aurelian currently has projects in four countries with a diverse range of risk profiles. In Romania, the Company is operator and holds interests in four blocks; Brodina (33.75%) Cuejdiu (33.75%), Bacau (52.5%) and Suceava (50%). In Bulgaria, Aurelian has a 50% interest in the B-Golitza and B1-Golitza Blocks operated by JKX Oil & Gas plc, whilst in Poland Aurelian is the operator of the Poznan East gas appraisal project with a 90% interest. In Slovakia, Aurelian has 100% interest in three license blocks awarded in August 2006.
Central Europe is one of the oldest petroleum provinces in the world but has suffered over recent decades from a lack of investment and technology. In working in this area, Aurelian will be using seismic, drilling and production technologies which, while standard practice for many of the world's important producing basins (such as the North Sea and the Gulf of Mexico), have not yet been used in Central Europe.
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