Aurelian Reports Success at Trzek-2

Aurelian Oil & Gas has reported that its Multi Fracced Horizontal Well (MFHW) at Trzek-2 at the Siekierki Gas Project has encountered a 100 metre gas column in Rotliegendes Sandstone. Trzek-2 is the first MFHW  to be drilled in Poland.

Trzek-2 is targeting approximately 16 - 28bcf of recoverable gas reserves.

The company reports that after coring and logging, the well is to be sidetracked and drilled horizontally towards 91 metre gas column discovered by Trzek-1. Completion of Frac and Flow test expected during December 2010 in line with planned well schedule and budget.

"Encountering the estimated 100 metre gas column, on schedule and on budget, is a major step forward,” Aurelian chief executive Rowen Bainbridge said.

The well represents a major step in the development of the Siekierki Tight Gas Project, where Aurelian already has 346 billion cubic feet (Bcf) of gas.

Aurelian also reported a new €75 million credit facility, saying the company is now fully funded for its forward drilling programme  The programme sees eight more wells being drilled by the end of 2011.