Drucker announces completion well in Egypt

Published November 12th, 2000 - 02:00 GMT

Drucker Industries Inc. has announced that a seventh well in the Hana field, Gulf of Suez, Egypt has been successfully drilled and completed.  


Hana-7, drilled as a development well, encountered 62 feet of net sand pay in the Kareem formation. The top of the sand, at 4,806 feet, is in the most favorable and highest position of the Hana reservoir.  


Upon completing Hana-7 as an oil producer, the rig will immediately commence with the drilling of the Hana-8 well. The successful completion of these two additional producers will substantially boost field capacity above the current level of 2,000 barrels of oil per day.  


The Hana-7 and Hana-8 development wells constitute the initial phase of a multi-well development and pressure maintenance drilling program scheduled to be completed in early 2001. Drucker has a 20 percent working interest in the onshore 2,530 sq km West Gharib Block in Gulf of Suez, Egypt.  


In Algeria, spudding of the Sahara El Mehadjer-1 (SEM-1) well within the onshore 3,152 sq km Hassi Bir Rekaiz Concession is anticipated in the third week of November, 2000. Drucker has an indirect 2.5 percent interest in the project.  




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