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Oil production has now commenced from the NA-8 well in the Ty Segment of the Danish Nini Field with a promising initial production of 5500 bbl/day (Altinex Oil: 1650 bbl/day). Oil in the Ty Segment in the Nini Field was discovered in 2000 by the Nini-1 well, and has been appraised by a number of wells. The technically challenging NA-8 well, drilled from the Nini Platform using the Noble George Sauvageau, was drilled on time and on budget by the operator DONG Energy. Production data from the first six moths will be evaluated, before further development of the Nini Ty Segment.
Future production data from the well will determine potential for any upside revision of Altinex's production forecast for the remainder of 2007.
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