Centurion Clarifies Gelgel-1 Well Tests
Centurion Energy International Inc. wishes to clarify the test rates announced in the August 16, 2001 news release for Gelgel-1 discovery well in the El Manzala Concession, Egypt.
Two gas-bearing zones with net pay of approximately 10 meters were perforated and production tests with multiple choke sizes were carried out. Over a 72 hour period the two zones tested at a combined maximum rate of 31 million cubic feet of gas per day with no water or impurities through a 7/8 inch choke with average wellhead pressure of 1,100 PSI. The well is currently shut in for pressure build up, after which full analysis of the pressure data will be carried out for reserve estimates.
Said Arrata, Centurion's President and CEO, stated, "The Gelgel-1 discovery significantly increases reserves in the Southern part of the El Manzala Concession and will expedite the development program for the area. The development plan will now combine the Gelgel discovery with the nearby Abu Monkar gas field discovered in 1998".
Once reserve estimates for the Gelgel-1 discovery are determined, an amendment to the existing Abu Monkar Area Plan of Development will be submitted to the Egyptian General Petroleum Corporation (EGPC). Upon approval, the Company intends to commence pipeline construction to tie-in gas from Gelgel and Abu Monkar to the national gas grid.
The rig has been released from the Gelgel-1 site and is rigging up at the Company's next exploration well location, Fasada-1, which lies approximately 12 kilometers to the Southeast of Gelgel-1.
Meanwhile, construction of the El Wastani gas production facilities in the Northern area of the Concession are ongoing. The expected date of completion for the project is mid October 2001.