Vintage Petroleum announces successful well in Yemen
Oklahoma-based Vintage Petroleum, Inc. (VPI) announced last week that the An Nagyah #4, the second appraisal well to the An Nagyah #2 discovery well in the Republic of Yemen, has tested light (45 degree API) oil from the sub-salt Upper Lam formation.
The well was drilled to continue the evaluation of the sub-salt Lam formation discovery announced in December 2002. The An Nagyah #4 was drilled to a total depth of 1,547 meters.
Electric log and pressure analysis indicate a gross interval of 35 meters that is gas bearing and a gross interval of 58 meters that is oil bearing in this well. A 30-meter interval in the Upper Lam formation was perforated between 1,032 to 1,065 meters and tested at a stabilized flow rate of 1,320 barrels of light, water-free oil and 0.8 million cubic feet of natural gas per day with a flowing tubing pressure of 335 pounds per square inch.
The Upper Lam interval tested in the An Nagyah #4 correlates to the interval in the An Nagyah #2 discovery well which tested 1,091 barrels of oil per day. The An Nagyah #4 encountered the Lower Lam formation down-dip and below the water-oil contact; therefore it was not tested.
The first appraisal well, the An Nagyah #3, tested in the Lower Lam formation in a structural position above the water-oil contact at a rate of 205 barrels of oil per day.
"We are encouraged by the results of the An Nagyah #4 which indicate the continuity of the Lam sands over the An Nagyah structure and the potential of a new exploration play in the Sab'atayn basin. Our focus will be to complete the technical and economic evaluation required to determine if sufficient reserves and long-term production rates exist to justify field development," said Vintage CEO Craig George.
Vintage is the operator and has a 75 percent working interest in the 850,000 acre S-1 Damis block. Vintage Petroleum, Inc. is an independent energy company engaged in the acquisition, exploitation, exploration and development of oil and gas properties and the marketing of natural gas and crude oil.
Company headquarters are in Tulsa, Oklahoma, and its common shares are traded on the New York Stock Exchange under the symbol VPI. — (menareport.com)
© 2003 Mena Report (www.menareport.com)