The Company is pleased to provide an update on operations at its Trinidad assets with the following highlights:
Drilling rigs 2, 5 and 8 resume operations:
- Zero safety incidents since September 2013, approaching six months LTI-free operations
- QUN 148 well drilled to a target depth of 691 feet in the Lower Forest horizon. Oil shows were observed while drilling and well log analysis indicates 30 feet of oil sands present. The well is currently scheduled to be perforated and completed for production.
- The drilling rig will now move to the next QUN 149 well location.
- QU 452 well drilled to a target depth of 1,814 feet. The well was logged indicating 80 feet of gross oil sands. The Company will now drill the well deeper until the base of the reservoir sands is reached. QU 452 is the first well to be drilled in South Quarry since 2007. The well is expected to extend the field’s Middle Cruse producing trend into new fault blocks. A successful well will result in additional Proved Reserves and future drilling locations.
- MD 248 well is being prepared for side tracking from 3,234 feet targeting the Lower Cruse formation. Zero safety incidents since September 2013, approaching six months LTI-free operations
- The maintenance programme for light rig 1 and heavy rigs 6 & 7 continues as planned