Midway Resources International Announces Drilling/Production Report

KENYA, AFRICA / ACCESSWIRE / March 11, 2019 / Midway Resources International (MRI), the Africa focused oil and gas company, is pleased to announce the preliminary results of drilling of the Pate-2 well on Blocks L4 & L13, Kenya. The operator, Zarara Oil & Gas Limited (Zarara), a wholly owned subsidiary of MRI, drilled the well to a total depth of 4,307 meters and penetrated the primary Lower Tertiary Kipini objective.

The well was drilled on Pate Island and targeted the Pate sub-basin in the onshore Lamu Basin in eastern Kenya. Drilling took considerably longer than had been planned, partly because of difficult drilling conditions comprising very hard shales in the caprock interval. More recently higher pressures had to be carefully managed to maintain a safe operation.

The drilling to date has confirmed the presence of relatively higher pressure natural gas in several reservoir intervals with in the Kipini Formation. Some 23 metres of net pay gas has been intersected. However, a clear gas water contact has not yet been identified during drilling or logging. The well has not been tested as the intersected sands, being relatively thin and fine grained are now believed to be located in the distal part of the Kipini delta. As a result, the well is considered unlikely to be commercial on a standalone basis and will be plugged and abandoned, although it would be capable of re-entry if desired.

The well results successfully confirmed a working petroleum system in the Pate sub-basin of the Lamu Basin. In addition to any further appraisal activity with respect to Pate-2 well, Zarara will now focus its further exploration activity within a Kipini play fairway that Zarara believes exists within Blocks L4 and L13.

Peter
Worthington, Chief Executive Officer of MRI, commented:
“The Pate-2 well is a re-drill of Pate-1 drilled by BP/Shell in 1970. Pate-1 drilled into the top of a clastic sequence which flowed gas and water. The well kicked and was brought under control after about a month. It was then plugged and abandoned with two fish in the hole and consequently the reservoir remained unlogged. Following acquisition of about 400 line km of seismic, Pate-2 was drilled about 300m away from the location of Pate-1 on the site of a mapped structure confirmed from our seismic mapping. Like the Pate-1 well, Pate-2 has been operationally challenging. However, this is an exciting result for the company making the first hydrocarbon discovery in the onshore Lamu Basin. Whilst not commercial at this location, it has already enabled us to map the extent of the Kipini play fairway across Zarara’s acreage in L4 & L13 and better target thicker sands in another structure. It also provides encouragement to explore for further drilling targets at reduced risk and a better understanding of the play fairway. Further information will be released as Zarara takes its next steps in the Lamu sub-basin.”

ENQUIRIES

For further information, please contact:

Peter Worthington, CEO
Patrick Barr, CFO

+44 (0) 20 7495 7072

C/- MRI Management Company LLP
15 Half Moon Street,
London W1J 7DZ
United Kingdom

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Midway Resources International

View source version on accesswire.com:
https://www.accesswire.com/538611/Midway-Resources-International-Announces-DrillingProduction-Report

error: Content is protected !!