Aurelian Completes Frac Stimulation Process at Polish Well
Aurelian provided the following operational update.
Fracture stimulation process for first Siekierki Multi Fracced Horizontal Well ("MFHW") Trzek-2 successfully completed and initial production rate of 17mmscf/d recorded
The hydraulic fracturing operations on the Trzek-2 well have now been completed. Ten separate zones were successfully fracture stimulated along the 1350m of horizontal wellbore.
An initial production rate of 17mmscf/d was recorded on Trzek-2 on a short term test, compared with an initial production rate of 7.5mmscf/d recorded for the Trzek-1 vertical well on a similar short term test in 2007.
On completion of the well clean-up process, a 2-day shut-in period will take place, and then the well will be flowed for up to a further 30 days. From this, a stabilized flow rate will be ascertained, and that figure will be used by the Company to estimate an ultimate recovery from the well. A further announcement will be made upon completion of this process.
The Company currently estimates that Trzek-2 will be completed in line with its original budget estimate of €18.2 million.
Trzek-3, the second Siekierki MFHW, drilling ahead as planned
Trzek-3 is currently drilling ahead at approximately 2500 meters, with the vertical pilot hole and the horizontal section expected to be completed by late May or early June 2011. Hydraulic fracturing operations will then follow, with stabilized flow test results expected by late June or early July.
Trzek-3 is targeting a separate high in the Siekierki structure with a recoverable resource estimated at between 16 and 28 bcf.
The Siekierki project is located on the Poznan licenses which are 100% held by Energia Zach?d Sp. z.o.o., a company owned 90% by Aurelian and 10% by Avobone N.V.
Rowen Bainbridge, Chief Executive commented, "Aurelian is the first company to successfully use Multi Frac Horizontal Wells in Tight Gas reservoirs in Poland and to produce a very good initial flow rate is a great result. This represents an important step forward in the delivery of Aurelian's plan to develop our 346 bcf project at Siekierki. Our second Multi Frac Horizontal Well, which spudded on the 26th of January, is also making good progress and I look forward to providing further updates on this core asset in the coming months."