Gulf Oil and Gas accountACCOUNT

Calvalley Acquired Approval for Second Exploration Period in Yemen

Source: www.gulfoilandgas.com 10/27/2004, Location: Middle East

Share |
Calgary, Alberta, October 27, 2004 – Calvalley Petroleum Inc. Operator of Block 9, Republic of Yemen, announces that the Ras Noor-1 exploration well has been suspended as an oil discovery. The well reached a total depth of 1677m and encountered 3 meters of oil pay in good quality sands of the Harshiyat Formation at 815m. There are no plans to test the well at this time until the Company’s technical team has assessed the oil discovered in the Harshiyat Formation sand to evaluate its extent and the prospectivity of the surrounding area.

Calvalley’s near term focus will now switch to the appraisal and early development of the Hiswah oil pool, which independent engineering evaluation indicates contains approximately 235 million barrels of oil in place. After some modification work, the current drilling rig will move to the Hiswah field to drill three appraisal wells. These will each be comprised of a vertical well to gather reservoir data and oil samples and a horizontal well bore to test the productive capability of the fractured limestone reservoir. It is anticipated that the first well will spud mid-late November 2004, with each well taking approximately one month to drill and test.

Calvalley has also received approval from the government of Yemen effective October 4, 2004 to enter the Second Exploration Period, under the Production Sharing Agreement, which will run to March 4, 2008. As part of the process of moving from the First to the Second Exploration Period the Company must relinquish 25% of the surface area of the Block. The area chosen for relinquishment is in the northern portion of the Block and is considered to be the least prospective area of Block 9. This is an important milestone as it allows Calvalley to explore the remaining 75% of the Block, an area equivalent to approximately 1,400 sections of land in Canada, for the next three and one half years.

With more than 20 prospects and leads so far identified in Block 9, the Company’s exploration drilling program during the Second Exploration Period will run concurrently with appraisal and development work on Hiswah, Al Roidhat and the other Block 9 discoveries. Discussions are continuing with the government of Yemen on the Declaration of Commerciality, with the goal of achieving this milestone before the end of 2004.


Exploration News in Yemen >>

Norway >>  10/16/2017 - Statoil Petroleum AS (Statoil) is the operator for production licence 190 in the North Sea. We have given the company consent to drill exploration wel...
Lebanon >>  10/12/2017 - Lebanon’s Energy Minister Cesar Abi Khalil said a tender had closed on a first round of offshore energy blocks, and told local media that two consorti...

Colombia >>  10/11/2017 - Gulfsands Petroleum plc (GPX), the oil and gas company with activities in Syria, Colombia and Morocco, is pleased to announce a significant reset of i...
Cuba >>  10/11/2017 - Melbana Energy Limited (Melbana) has provided official notification to Cuban regulatory authorities of its commitment to the second exploration sub-pe...

Morocco >>  10/11/2017 - SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that a gas discovery has been made at its KSR-14 development wel...
Norway >>  10/11/2017 - Bayerngas Norge AS (Bayerngas) is the operator for production licence 682 in the North Sea. We have given the company consent to drill exploration wel...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Yemen Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Yemen >>

More News

 

Oil & Gas Companies in Yemen >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.