Aurelian reports success in Romania

Aurelian Oil & Gas has reported positive well-test results from Climauti-1, in the Suceava Block, Romania,

The company noted that the well tested at a rate of 2.7million scf/d at a flowing tubing head pressure of 30bar.

This rate was achieved over a 36 hour test period with a drawdown of only 3.2 bar from Sarmatian sands at a depth of 456.5 – 463.6m, 7.1m gross, 6.3m net.

Rowen Bainbridge, Chief Executive of Aurelian, commented:

“We are delighted with the test results from this well. The reservoir appears to be very productive and as a consequence the test period has been limited to that required to demonstrate reserves and support an “application to develop". Installation of the pipeline will now commence and we anticipate cash flow from this discovery in Q4 2010.”

Aurelian and its equal partner, Regal Petroleum, estimated that the gross recoverable gas reserves will be 2bcf over the life of the well.  Work will start shortly on the installation of a 4km pipeline to the Bilca Gas Plant, with first gas expected in Q4 2010.

Aurelian made the discovery in Climauti-1 earlier this month.

As a result of this discovery, stated that it Aurelian’s total production is expected to increase by 18% over the next seven years.

Source: Aurelian Oil & Gas