PA Resources Strikes at Elyssa-3 Offshore Tunisia

PA Resources has received encouraging preliminary results from their drilling of the exploration/appraisal well Elyssa-3 on the Zarat field in Tunisia. The company has discovered additional gas reserves in an approximately 31 meters thick gas pay zone above the main reservoir.

PA Resources is currently drilling the Elyssa-3 exploration/appraisal well in the Zarat Permit, located offshore Eastern Tunisia on the border to Libya. The Elyssa structure has previously been tested by two wells drilled by the former operators on the block. The first well Elyssa-1 found and tested gas in the U. Cretaceous Bireno Limestones. The second well Elyssa-2 was drilled down dip from Elyssa-1 and discovered an oil rim below the gas cap in the same reservoir. Elyssa-3 has been planned to test both the gas cap and the oil rim within the Bireno formation main reservoir, on the northern flank of the structure.

During drilling of the shallow section above the main reservoir, several gas-bearing intervals were unexpectedly penetrated between 1,843 meters and 2,036 meters in Limestones of Eocene age (Vascus & Cherahil Formation). Preliminary log interpretation indicates total gas pay zone thickness of at least 31 meters, and chromatograph analyses of recovered gas samples indicate wet gas. Additional gas samples will undergo detailed analyses to fully evaluate the gas composition.

These preliminary results of the Elyssa-3 are very encouraging and indicate that we may have additional gas reserves within the Elyssa structure. However, we still need to drill the Elyssa-3 well to its planned true depth, and further evaluate all the well results and maybe conduct a production test of these new zones before we can make estimations of their commercial value, says Ulrik Jansson, President and CEO of PA Resources.

At the time of publication of this press release, the well has penetrated the Bireno Formation which have been logged and cored. The preliminary analyses indicate that good reservoir quality is present. Direct indications of oil have been recorded in the core material but the nature of this oil is still uncertain. The current operation is aimed to acquire fluid samples and pressure measurements which will verify the nature of the reservoir fluid. Cavities in the well bore have, up till now, made this operation unsuccessful. A technical sidetrack is being planned in order to enable the operator to acquire all necessary data needed to fully evaluate the Elyssa field.

Forward plans are to perform well tests of all hydrocarbon bearing zones. The well will then be suspended as the rig will move to the Didon Field to drill three planned development wells from the Didon platform location. A re-entry of Elyssa-3 is planned following the completion of the Didon development drilling program.

PA Resources is, through its Tunisian company, operator and has a working interest of 45 percent in the Zarat Permit. Partner is ETAP, the Tunisian State oil company, with a working interest of 55 percent.

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