Northern Petroleum Says Ottoland-1 Well Testing Encouraging
Northern says the first phase of testing on Ottoland has now been completed. Encouragingly the conclusion from the data is that the flow rates of up to 1447 bopd and 0.6 mmscf/d gas have been established from less than one half of the section interpreted as net pay in the 405 meter horizontal part of the well section.
A work-over of the well will be undertaken to further perforate the reservoir unit and a second phase of testing will be conducted to establish the full potential of the whole of the horizontal well thereby allowing the design of optimum production facilities. These activities will require a workover rig and the availability of sufficient tank facilities during the test periods.
It is likely to be carried out in the near future in conjunction with other planned activities at Brakel or Papekop.
The applications and permits to allow continuous production from Ottoland will now be progressed without the need to await these further tests.
Northern Petroleum Nederland B.V. ('NPN') currently holds an 85% interest in the Ottoland field, the other partner in the license is Dyas B.V., a 100% subsidiary of the privately owned SHV Holdings NV. The NPN interest will reduce to 45% if the Minister of Economic Affairs designates Energie Beheer Nederland B.V. ('EBN'), a State owned company, as a 40% participant in the field in return for a pro-rata share of sunk costs and a pro-rata share of all future costs of the joint ventures.
Derek Musgrove, Managing Director of Northern, stated:
'We have been pleased by the reservoir quality in this well. The work-over is
needed to increase the well productivity so important in firming up our
production and marketing plans.'
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