Centurion Energy International Inc. announce its activity update for ongoing drilling success in egypt as follow:
El Wastani Production Lease: Testing of El Wastani-6 is now complete. The well tested at a rate of 22 mmscfpd and 935 bpd of light oil from a 56 metres gross pay interval in a deeper new pay zone in the Qawasim formation. This is the first occurrence of light oil in the El Wastani Production lease and drilling plans are underway to appraise the discovery.
A 60 metre gross pay interval was also logged in the Abu Madi Formation but was not tested as the zone has already been proved productive in the field. The well will be tied-in immediately although field production is near the maximum level that current facilities can process. Additional production facilities will be available in September.
The current production from the El Wastani Production Lease is 70 mmscfpd of gas and 3,624 bpd of oil, natural gas liquids and condensate (15,291 boepd).
South El Manzala Production Lease: Testing of Gelgel-5 is now complete. The well tested at a rate of 14.2 mmscfpd from a six metre interval in a deeper new pay zone in the Kafr El Sheik Formation. An additional 13 metre pay section was also encountered in the producing Wastani Formation. The well is currently being tied-in.
The South El Manzala pipeline twinning project is also underway with completion expected in August. The SBDC Rig #50 is currently drilling the Gelgel-7 location and at time of report the well had reached a depth of 751 metres.
The current production from the South El Manzala Production Lease is 50 mmscfpd
Abu Monkar #3 Exploration Well: A new location has been prepared to drill the Abu Monkar #3 Exploration Well. The well will be spudded once the Weathorford Rig is in country, which is expected by the end of the 3rd Quarter of 2005.
West Manzala and West Qantara Blocks: The 3D seismic acquisition program is well underway with almost one-third of the 2,000 square kilometer program completed. Early results of the processing and interpretation are very encouraging and tendering operations are in process for tubulars for up to 33 potential wells in our 2006-2007 drilling program. An exploration well is planned to be drilled in September 2005 to start off the drilling campaign on these blocks.
West Gharib Permit: The operator continues to drill exploratory wells on the permit, discovering additional heavy oil reserves at the Hoshia, Fadl and West Hoshia exploratory locations. The Hoshia-1 discovery well is producing 600 barrels a day of oil from the Rudeis Formation. The Hoshia-2 appraisal well is currently drilling in an updip position from Hoshia-1 and has encountered encouraging hydrocarbon shows in the Rudeis and the deeper Raha and Nubia Formations.
The Fadl-1 exploratory well was initially tested at 250 bopd and the West Hoshia-1 well at 300 bopd. Both wells are currently suspended waiting for testing equipment. In addition, appraisal of the previously discovered South Rahmi is planned.
The operator has submitted Plans Of Development to the government for approval, for the Fadl, Hoshia, West Hoshia, and South Rahmi discoveries.
The Hana Field continues to have stable production currently producing at 1,543 bopd. The operator is proposing to drill 12 exploratory and development wells on that permit during 2005 and 2006, to exit 2005 at 3500 bopd and 4500 bopd in 2006. Centurion has a 30% working interest in the West Gharib Permit.
Drilling Rig Update: Centurion has now contracted four drilling rigs. The rigs will be available to Centurion through the end of 2005 with plans to extend the contracts to the end of 2006.
SBDC Rig # 50 - drilling Gelgel-7 well.
ECDC Rig # 2 - returning to Centurion in early August, after a one-well commitment to another operator.
ECDC Rig # 6 - expected to be available late August.
Weathorford Rig - expected to be available late September.
Centurion expects to have a very active drilling program throughout the balance of 2005 and during 2006 on both of the development leases as well as the new exploration blocks, West Manzala and West Qantara.