NewsDato/tid 02.05.2011 11:03
Utsteder Transeuro Energy Corp.
UtstederID TSU
Instrument TSU
Marked OAX
Kategori ANDRE BØRSMELDINGER
Informasjonspliktig Informasjonspliktige opplysninger Lagringspliktig melding
Vedlegg
Tittel UKRAINE SECOND TEST COMPLETED
Tekst 2nd May 2011 TSX-V/Oslo Axess: TSU
Vancouver, Canada: - Transeuro Energy Corp.
("Transeuro" or the "Company") issues an update on
its Ukraine operation as follows:
Flow testing of the second test interval of the
previously announced 4 test programme on Karl-101 has
been completed. The well was perforated underbalanced
and flowed for 3 days before being shut in for a 48
hour pressure build up period. The stabilized flow
rate was around 0.1 mmcf/d (3000m3/d) with traces of
condensate liquid, giving a combined rate of
approximately 17 barrels of oil equivalent per day
(boepd). The maximum hourly rate recorded was 0.3
mmcf/d (8160 m3/d). No acid stimulation was performed
on this interval.
The President & CEO, David Worrall commented;
"To conclude the evaluation of this interval, we will
retrieve the perforating guns to confirm that all the
explosive charges fired, and to download the memory
pressure gauges. We will then continue with the
testing programme on the upper intervals that
represent around 55% of the overall reservoir
including the best quality reservoir interval in the
very top 30m that is expected to deliver the highest
flow rates.
The low flow rates recorded in Test 2 suggest that
there are no significant fractures in this interval
however the results do confirm the presence of gas
and condensate, and prove that gas recovery from this
middle section of the reservoir is possible. The 2
completed tests have not achieved our target flow
rates and suggest the lower reservoirs will require
more aggressive well designs to recover the gas in
place, possibly including horizontal wells,
underbalanced drilling and/or fracturing technology. "
Transeuro is involved in the acquisition of petroleum
and natural gas rights, the exploration for, and
development and production of crude oil, condensate
and natural gas. The Company's properties are located
in Canada, Armenia, and Ukraine. In addition, the
Company holds a back-in option to Eaglewood Energy
Inc.'s exploration licenses in Papua New Guinea.
On behalf of the Board of Directors
Aage Thoen, Chairman
For further information contact:
Chris McGillivray, IR, +1 604 728 0040
David Parry, SVP, +1 604 681 3939
Karen Jenssen, IR, +47 91 729787
https://www.transeuroenergy.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) nor the Oslo
Bors accepts responsibility for the adequacy or
accuracy of this release. When used herein, the
term "boe" means barrels of oil equivalent on the
basis of one boe being equal to one barrel of oil or
NGLs or 6,000 cubic feet of natural gas (6 mcf: 1
bbl). Barrels of oil equivalent may be misleading,
particularly if used in isolation. A conversion ratio
of six mcf of natural gas to one boe is based on an
energy equivalency conversion method primarily
applicable at the burner tip and does not represent a
value equivalency at the wellhead. The statements
contained in this release that are not historical
facts are forward-looking statements, which involve
risks and uncertainties that could cause actual
results to differ materially from the targeted
results. The Company relies upon litigatio