Rally Produces First Oil from West Issaran
Rally Energy Corp. announced a new dual zone heavy oil discovery on a separate structure with the drilling of its West Issaran-1 exploratory well, located approximately three kilometers from the existing Issaran Field.
Petrophysical analysis of the Upper Dolomite formation indicates the presence of another reservoir that can be developed by thermal recovery methods. The Lower Dolomite formation was significantly fractured providing the potential for this zone to produce conventionally.
The Lower Dolomite has now been completed and tested and the Corporation is pleased to announce that this zone was placed on production last week and is currently producing at an average rate of 150 barrels of oil per day.
Beginning in the third quarter, Rally will continue to develop the West Issaran discovery through a drilling program of offset Lower Dolomite development wells, combined with two delineation wells that will evaluate the aerial extent of the Upper and Lower Dolomite accumulations and evaluate the ultimate reserves potential from thermal and conventional methods in this area.
Based in Calgary, Alberta, Canada, Rally Energy is an oil and gas
exploration, development and production company. The Corporation's primary
area of operation is in Egypt, where it has a 100% operating interest in the
Issaran oilfield, a significant heavy oil development opportunity with strong
growth potential. In Pakistan, the Corporation holds a 30% interest in the
Safed Koh Block, where it is participating in the development of a large
natural gas/condensate discovery.