Driller Cairn in Senegal surge

News is getting out there...
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Confidence in the SNE development offshore Senegal has soared after impressive flow rates from the SNE-3 appraisal well proved Cairn's (CNE) hefty stake in the field is commercially viable. With the oil price up as well, investors piled in, causing shares in the explorer to overflow from their recent bullish channel and head straight toward a nine-month high.

Oil flowed from the appraisal well at a maximum rate of around 5,400 barrels of oil per day (bopd) with a main flow rate of 4,000bopd over the 24 hours. In the second six-hour test of the upper reservoirs, a maximum rate of 5,200bopd was achieved from a slightly larger zone, with a main flow rate of 4,500bopd. Both used a 56/64" choke.

The second in a multi-well evaluation programme, the reservoir quality is of similar quality to other plays. Cairn achieved a 100% recovery rate from 144 metres of continuous core taken across the interval. Helping Cairn determine the shape of the reservoir structure and full potential of the field, all this information will help the joint venture mark out a long-term development plan for the discovery.

http://www.iii.co.uk/articles/301022/driller-cairn-senegal-surge