SOCO Successfully Tests KHA - 405 Well in Yemen
SOCO International's subsidiary, Comeco Petroleum through which the Company holds a 16.785% stake in the East Shabwa Development Area in Yemen, reports the successful production test of the KHA-405. The well was drilled as part of the continuing appraisal and development of the Basement reservoir in the Kharir Field.
The KHA-405 spudded on 28th March 2005 and reached a total depth of 3,755 meters. The objectives of the well were to delineate the Basement and evaluate reservoir development in the eastern extension of the structure as currently mapped. KHA-405 produced over 7,300 barrels of oil per day when tested against a 58/64 inch choke. Production was limited by capacity limitations of the Kharir's main production facilities. This marks the fourth consecutive success of the five wells drilled thus far in the program initiated in August 2004 to evaluate the Basement reservoir in the Kharir Field.
The sixth Basement well in the current ESDA drilling program, the KHA-406, spudded on 11th June 2005 and is designed to be a water injection well.
Drilling of the KHA-405 is part of the consortium's three part program for the year to appraise the Kharir Basement structure, increase reserves through exploration and increase production from the 29,000 BOPD level at the end of 2004.
Ed Story commented:
"The Basement potential in the Kharir Field in the East Shabwa Development Area in Yemen continues to grow. With this demonstrated success, the consortium now expects to test the exploration potential elsewhere on the Block and to increase its production and export capabilities"
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