The Ras Nowmah-2 well was drilled and tested during the third quarter. Using the
largest capacity pump available to the Company at the time of the test, the well flowed at
a stabilized rate of approximately 3,000bbl/d of sweet crude (approximately 30° API) with
no formation water and only 9.5% pressure drawdown. Independent reservoir engineers
have calculated a flow rate in excess of 5,000 bbl/d with 20% pressure drawdown. The
Company has commenced preparation for an appraisal well in the discovery area (Ras
Nowmah-3).
?? Due to the success of the Ras Nowmah-2 well, Calvalley is currently acquiring
approximately 350 km of new 2D seismic data to delineate the new field discovery at the
Ras Nowmah oil field for future development and to facilitate the exploration of the Qishn
and Saar-Naifa in the Southern parts of Umm El Radhuma Plateau.
?? Appraisal of the Qarn Qaymah structure was started by mobilizing the rig to the Qarn
Qaymah-3 ("QQ-3") well site in mid-September. The drilling of the well commenced on
October 2, 2010. QQ-3 is targeted to have a total depth of 4,460 meters including an
openhole section of approximately 1,000 meters in the oil bearing Fractured Granitic
Basement ("FGB"). The openhole section is expected to encounter seven (7) major
fracture zones in the FGB. The drilling of QQ-3 is progressing well and on budget with
the current depth of approximately 2,000 meters. We expect to complete the drilling by
mid-December. The testing of the well will commence immediately thereafter.
?? The Hiswah-34 development well was drilled and completed successfully during the third
quarter and has been brought onto production. The Company is also continuing its
pressure maintenance and production optimization program for the Hiswah field.
?? The Company is continuing to develop the Al Roidhat field and is currently drilling the
Al-Roidhat 9 development well.
?? Due to the developments at Ras Nowmah, the execution of marketing agreements, and
the continuing development of the Al Roidhat field, the Company is conducting
preliminary technical work associated with an inter-field pipeline connecting the Al
Roidhat and Ras Nowmah fields to the CPF which is located at the Hiswah field.
Construction is expected to begin in the first half of 2011 with completion scheduled for
the third quarter of 2011. I will talk to the CVI.a office & see if there is condensate ?? I thought there was & I will get back tio you ether way ?