News!Sea Dragon Energy, Inc provides an operational update on NW Gemsa Egypt
CALGARY, July 21 /CNW/ - Sea Dragon Energy Inc. ("Sea Dragon") (TSX Venture: SDX) is pleased to provide the following update on its NW Gemsa Operations in Egypt
The AL Amir SE No.6 well has now been completed in the Kareem Shagar formation in the interval 9,805 ft to 9,835 ft. A flow test followed and a peak production of 4,630 bopd and 3.9 mmscf/d was recorded on a 48/64" choke. The well was shut in for a pressure build up and later placed on stream at approximately 1,100 bopd.
The AL Ola X-1 well spuded on July 15th. and is currently drilling at 1,540 feet. This well is being drilled as an exploratory well outside of the southern boundary of the AL Amir SE Development Lease. It is intended to capture a southern extension to the AL Amir SE oil field.
With the placement of the AL Amir SE No.6 well on stream, the NW Gemsa gross production has now reached approximately 9,500 bopd. Cummulative production to date from the concession is almost 2.8 mmbbls.
Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas Oil at 50% as operator and Circle Oil Plc. with 40%.
Commenting on the progress made to date on the NW Gemsa operations in Egypt, Company Chairman and CEO Mr. Said Arrata stated "It is encouraging to see the increase in production as a result of our development plans in the NW Gemsa concession. We look forward to further appreciation in this property's reserves, production and cash flow with continued exploitation of its full potential."
For further information please see the website of the Company at www.seadragonenergy.com or the Company's filed documents at www.sedar.com.
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