Regal Petroleum Climauti-1 Successfully Tested At 76,100m3/d

25th Jun 2010 15:52

LONDON (Dow Jones)--Regal Petroleum PLC (RPT.LN), an AIM-listed oil and gas exploration and production group, announced Friday for its Joint Venture exploration project in Romania, that Climauti-1 well successfully tested at 76,100 cubic meters per day or m3/d. MAIN FACTS: -The Climauti-1 well, drilled in the Suceava Block in Romania, has tested at a stable rate of 76,100 m3/d (475 barrels of oil equivalent per day or boepd) on a 12 milometers choke with a flowing tubing head pressure of 30 billionar. -This rate was achieved over a 36 hour test period with a drawdown of only 3.2 bar from Sarmatian sands at a depth of 456.5 - 463.6 meters, 7.1 meters gross, 6.3 meters net. -It is estimated that the gross recoverable gas reserves will be 2 billion cubic feet or bcf over the life of the well and work will start shortly on the installation of a 4 kilometers pipeline to the Bilca Gas Plant in the adjacent Brodina block with first gas expected in 4Q, 2010. -Interests in the Suceava Block are Aurelian Oil & Gas (Romania) SRL 50%, Regal Petroleum PLC 50%. -Shares at 1449 stood at 38.75 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] (END) Dow Jones Newswires June 25, 2010 10:52 ET (14:52 GMT)