Third exploration discovery in Egypt's Abu Sennan concession

Feb 13, 2012 12:00 AM

Beach Energy report its third discovery at the Al Jahraa-1 exploration well in the Egyptian Abu Sennan concession.
The Al Jahraa-1 well, located about 15 km west of the Al Ahmadi-1 and ZZ-4 discoveries, was the third well drilled as part of a six well exploration program. Al Jahraa-1 reached total depth in the Kharita Formation at 3,700 meters, with initial testing flowing oil at a rate of 835 bpd from the Abu Roash 'E' target zone.

As
this is an oil discovery with commercial flow rates, the operator, Kuwait Energy, anticipates commercial production of the Al Jahraa-1 discovery as soon as all appropriate approvals are received from the regulatory authorities.
As
previously announced, the El Salmiya-1 well, located approximately 10 km east of the Al Ahmadi-1 and ZZ-4 discoveries, is currently running a testing program, with very encouraging initial results.

The
final two wells of the six well program, Salwa-1 and Hawali-1, have recently spudded.
These
wells are further south in the concession and are expected to reach total depth over the coming weeks.

The
Joint Venture equity interests in Abu Sennan are:
Beach
(via wholly owned subsidiary Beach Petroleum (Egypt)) - 22 %,
Kuwait
Energy - 50 %,
and
Operator Dover Investments - 28 %.

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