Block Energy PLC - Mobilisation of ZJ40 Drilling Rig to 38Z Wellsite
Mobilisation of ZJ40 Drilling Rig to 38Z Wellsite
An A50 service rig was moved to the site to workover the well earlier this month (RNS: https://bit.ly/2YxCYYx). The mobilisation of the ZJ40 rig triggers the 12 month term of the agreement the Company reached this July with
The sidetracking of well 38Z is the next phase in Block's
Well 38Z is analogous, adjacent and updip to well 16aZ, where Block resumed production last month (RNS: https://bit.ly/2SRUO2l). Both wells target the same Middle Eocene formation. The Company will draw on the valuable experience gathered from the drilling of well 16aZ to optimise the completion design for well 38Z. Block plans to horizontally sidetrack three other wells across the Field in addition to wells 38Z and 16aZ, and acquire a 3D seismic survey to pinpoint further optimal locations for production.
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on
For further information please visit http://www.blockenergy.co.uk/ or contact:
(Chief Executive Officer)
| || |
Tel: +44 (0)20 7997 6136
| || |
Tel: +44 (0)20 3368 3554
| || |
Tel: +44 (0)20 3167 7221
| || |
Tel: +44 (0)20 7236 1177
1. Well 16aZ has been referred to as well 16a in previous updates. The Company is now referring to the well as 16aZ to reflect the addition of the horizontal sidetrack to the vertical well.
2. Block Energy is using the suffix Z in a well number to indicate a horizontal sidetrack.
This information is provided by RNS, the news service of the
Quick facts: Block Energy PLC
Market Cap: £14.2 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE