“Oil Search reports that as at 06:00 hours KRI time on 24 April, the Taza 1 ST2 well was at a depth of 3,351 metres and undergoing a well test of the Euphrates Formation and part of the Dhiban Formation.
The well test, which is being conducted in a 4-1/8” hole, commenced on 20 April. In the initial flow period, the well cleaned up to 99% oil (38 degree API) with flow rates of 400-500 barrels of oil per day and 1 million standard cubic feet per day of gas.
The well test will continue, in order to gain further information on the fluid properties and flow rates.”
OSH Price at posting:
$7.43 Sentiment: Buy Disclosure: Held
