LGO drilling update


Trinidad

LGO has announced that the last of its currently planned 2015 development wells, GY-678, at its Goudron Field development in Trinidad, which was spudded on 13 August 2015 successfully reached TD at 4219 ft measured depth (MD) on 5 September. Electric log interpretation from both the Goudron Sandstone and C-sand reservoir intervals confirm the presence of recoverable hydrocarbons, with a net hydrocarbon pay in the C-sand main target totaling nearly 480 ft.

Neil Ritson, LGO's Chief Executive, commented:

"Well GY-678, the seventh C-sand well this year, was targeting an area of anticipated thicker sandstone development and has successfully located a similar section to GY-670, which was drilled and completed late in 2014 and has subsequently produced over 105 000 bbls to date. This new well has found that same thick sand package and will now be completed for production."

Well GY-678 was the last development well currently planned for the C-sand reservoir in 2015 and the fourth well drilled from Pad-3 in the south of the field. Net oil pay in the Goudron Sandstone was encountered down to 1065 ft with an estimated 199 ft of total net oil pay. The oil bearing C-sand interval was encountered between 1535 and 4147 ft MD. Net hydrocarbon bearing pay in the C-sand interval is estimated as 479 ft. The pre-drill expectations for this well were for a thinner than average Goudron Sandstone section, as has been observed, and a thicker C-sand section. Well GY-670 had a C-sand section of approximately 250 ft, of which 177 ft were perforated, and the 479-ft package in GY-678 exceeds both GY-670 and the pre-drill expectations.

To assist with the anticipated enhanced oil recovery (EOR) project, a 30-ft core was acquired in GY-678 with 100% recovery to surface. Analysis of this core will be used, along with other information collected in the 15 wells drilled since April 2014, in the ongoing EOR design work which the Company hopes will lead to a pilot water flood commencing in late 2016.

The Company continues to evaluate options for further short-term drilling of wells specifically targeting the oil bearing Goudron Sandstone reservoir and now anticipates finalising planning of a Goudron Sandstone drilling programme before end year.

Adapted from a press release by Louise Mulhall

Published on 07/09/2015


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