Century Petroleum Corp. provided an operations update on high-impact project portfolio.
Drilling operations on the Alligator Bayou #1 exploratory well are proceeding normally. Century expects the proposed total depth to be reached during the quarter of 2008.
The partners on Shadyside #1 are reviewing different engineering options to enhance the hydrocarbon production of the well. Century expects the results to be completed by the end of this month. During May 2008, the well produced at an average daily rate of approximately 52 BOC and 1.8MMCF.
In 2007, the Thunder Stud #1 encountered both oil & gas on multiple pay horizons. Testing operations resulted in one zone flowing oil and gas at a gross rate of 1,057 MCFD and 456BOPD. The partners are integrating all available data and planning a path forward for this project.
"Century is working on securing additional high-impact exploration projects and on possible acquisitions of producing properties. At Century, we are confident that we will be successful in capturing significant growth opportunities for the Company," said James Hersch, CEO of Century Petroleum.
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