Xtract Energy: Sarikiz-2 Well Repairs More Difficult Than Expected

5th Jul 2010 17:14

LONDON (Dow Jones)--Xtract Energy PLC (XTR.LN), an investor in a portfolio of early stage energy sector businesses, said Monday that at its Sarikiz-2 well, operated by its Turkish business Extrem Energy AS, workover operations involving cement repairs to isolate unproductive zones proved more difficult than expected. MAIN FACTS: -It has become necessary to install a mechanical bridge plug in the well to provide further isolation and Extrem expect to run this component in the well next week. -Subsequently, Extrem will attempt to re-establish production and install the down-hole pump to increase production rates. -Shares closed Monday at 1.2 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires July 05, 2010 12:14 ET (16:14 GMT)