esp on site - flow tests commencing

Testing set to recommence on Lower C17/Upper C18 perforated reservoir sections
? Electrical submersible pump (ESP) is on site and currently being installed downhole
? High quality oil (37.0° API) recovered during well clean-up operations from Lower C17/Upper C18 carbonates- highly prospective reservoir sections on log evaluations
? Electrical submersible pump (ESP) will establish stablised flow rates and oil cut from the perforated Lower C17/Upper C18 sections
? Independent report estimates Probable Reserves of 2.3m barrels of oil in Atzam #4 well alone- providing significant upgrade potential to the existing 2.3m bbl P1 and P2 reserve estimate on the Atzam Oil Field and the total project resource
? Use of an ESP is common for water drive reservoirs like Atzam to produce from analogous oil bearing formations
? Upper C18 carbonates displayed impressive log results with permeability averaging 300 md and porosity averaging 17% – Rubelsanto Field (+30mmbbl produced) is 100md and 3-6% porosity
? Key reservoir units from logs still to be evaluated- C13 and C14 carbonate sections remain behind pipe and untested to date
The Company is pleased to confirm that the electrical submersible pump...