OEL 0.00% 1.3¢ otto energy limited

successful completion of phase ii .!!

  1. 173 Posts.
    Very happy to read the below statement in the ANN,

    This marks the successful conclusion of the major drilling activities of the Phase II project with remaining
    drilling rig based operations being for well completions and installation of subsea trees. The G-5H and G-6H
    wells have been drilled to a combined total of 3,177m through horizontal reservoir section within which a
    significant 1,645m of net oil pay has been encountered. Data recorded during drilling shows high reservoir
    permeability in both wells which suggests good production deliverability will be achieved. Well deliverability
    will be confirmed when the wells are flowed to surface in the coming weeks forthe well clean-up operations.

    Planned upgrades to the FPSO Rubicon Intrepid, which will process the additional Phase II production, have
    also been successfully completed this week according to schedule. Delivery of subsea equipment and
    mobilisation of installation vessels are all on schedule to allow final tie-in work to be completed consistent
    with planned first oil from the G-5H and G-6H wells in November 2013.
 
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