Winstar provided initial test results of the 100% owned and operated Chouech Essaida 8S well (CS No.8S) in southern Tunisia.
- The Company announces that the well has been successfully completed and after 42 hours is currently flowing at a stable rate of 1,625 bbl/d of oil (2,200 boepd of total hydrocarbons) commingled from two zones in the Triassic reservoir.
- The well results are consistent with results from interpretation of well logs which indicated that both productive zones encountered are 3 - 4 meters structurally higher and 50% to 100% thicker compared to the original CS No.8 well located approximately 50 meters west of the CS No.8S well.
- The well is tied into the 100% owned central production facility ("CPF") and testing is being conducted via the existing gathering systems resulting in lower testing costs and the sales of all test oil production.
- The following is a summary of the initial production rates from the well during 42 hours of initial testing