Cirrus Tests Positive Gas at Netherlands Appraisal Well

Cirrus Energy Nederland B.V. has completed the successful testing of the L11-13 appraisal well. The L11-13 well has been directionally drilled from the L11b-A production platform into the L8-D Field which potentially straddles the L8a, L8b and L11b blocks.

The L8-D field area has been unitized and equity interest partners in the L8-D Unit are Cirrus (25.479%), TAQA (15.000%), DSM Energie B.V. (2.880%), Energy06 Investments B.V. (1.341%), EWE AG (13.400%) and EBN (41.900%). Cirrus is the operator of the L8-D Unit.

The L11-13 well tested dry gas at a maximum stabilized flow rate of 820,000 Nm3/day (30.6 million standard cubic feet per day or MMscf/d) on an 48/64" choke at a flowing wellhead pressure of 200 bar (2,900 psig). These results are being integrated with existing data on the L8-D Field which was discovered by well L8-16x drilled in 2004. The L8-16x well was drill stem tested at rates up to 430,000 Nm3/day (16.1 MMscf/day) of gas from the same Permian-aged Upper Rotliegend Group sandstone reservoirs. The bottom hole reservoir penetration at L11-13 is located approximately 5.9 kms away from the L8-16x discovery well.

Cirrus' President, David Taylor, commented, "These testing results are encouraging and have met all our expectations for the L11-13 well. Given that the well was drilled from an existing production platform we are hopeful that it can be brought into production relatively quickly and at modest cost."