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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Harbour Energy Plc | LSE:HBR | London | Ordinary Share | GB00BMBVGQ36 | ORD 0.002P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -5.30 | -1.71% | 304.10 | 306.00 | 307.00 | 315.00 | 304.90 | 315.00 | 933,349 | 16:35:10 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jul 2019 to Jul 2024
TIDMPMO
RNS Number : 9427N
Premier Oil PLC
24 January 2019
Premier Oil plc (Premier)
Block 7 Zama appraisal success
24 January 2019
Premier notes the press release by Talos Energy, the operator of Block 7 offshore Mexico, announcing the successful completion of the first part of the Zama appraisal programme.
Highlights
-- 152 metres of net pay encountered above the oil water contact (OWC) as expected -- 73% Net-to-Gross ratio, higher than that at Zama-1 and ahead of pre-drill estimates -- Reservoir quality similar to that at Zama-1 as predicted -- Zama-2 well will now be side-tracked up-dip and flow tested as planned
The Zama-2 appraisal well was drilled 2.1 kilometres to the north of the Zama-1 discovery well in a down dip location with a key objective to confirm the OWC. The well encountered the top Zama reservoir at 3,279 metres (true vertical depth (TVD)) on prognosis and the OWC at 3,430 metres TVD, consistent with the flat-spot observed on seismic. A full wireline data acquisition programme was undertaken, including the collection of cores, pressures and fluid samples from the oil and water leg.
The Zama-2 well penetrated 152 metres of net pay above the OWC in line with pre-drill estimates and encountered a higher Net-to-Gross ratio of 73% compared to 63% at Zama-1. Reservoir quality is similar to that at Zama-1 and in line with expectations.
Following completion of the data acquisition programme, the Zama-2 well was deepened to evaluate the high risk Marte exploration prospect. The Marte reservoir was encountered on prognosis and did not find hydrocarbons.
The Zama-2 well will now be side-tracked (Zama-2ST1) updip and will include a comprehensive coring programme as well as a drill stem test of the Zama reservoir. The programme is progressing ahead of schedule and is currently under budget. Further updates will be provided as key activities are completed.
Tony Durrant, Chief Executive, commented:
"This is an excellent start to the Block 7 Zama appraisal programme in Mexico. It enhances our interpretation of the large Zama discovery and increases our confidence in our resource estimates. We now look forward to the results of the drill stem test of the Zama-2 side track."
Enquiries Premier Oil plc Tel: 020 7730 1111 Tony Durrant, Chief Executive Dean Griffin, Head of Exploration Camarco Tel: 020 3757 4983 Billy Clegg Georgia Edmonds
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
January 24, 2019 02:00 ET (07:00 GMT)
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