PTT Discovers 'Petroleum-Bearing Formations' in Algeria Project

PTT Exploration reported that MOM-3 exploration well at Blocks 433a & 416b, a part of the Algeria project, spudded on September 19, 2007 and was drilled to a total depth of 3,872 meters and encountered two zones of petroleum-bearing formation with a total thickness of 30 meters. The flow rate testings (Drill Stem Test – DST) were conducted on two zones, indicating average oil flow rate of 800 barrel per day (API = 48 degree) and natural gas flow rates of approximately 1 million standard cubic feet per day (MMSCFD). The project will expedite the petroleum potential evaluation in MOM prospects in order to enhance additional oil production in the future.

HBRO-1 exploration well at Blocks 433a & 416b, spudded on October 14, 2007 was drilled to a total depth of 4,021 meters. It was found that there is less hydrocarbon potential at HBRO-1 for commerciality from the wire line logging evidence. In view of the above results, additional oil flow tests were not conducted. The well was plugged and abandoned.