London-listed Mediterranean Oil & Gas is recording “signficant oil shows” at its wholly owned Ombrino Mare 2 appraisal well offshore Italy, and the news has sent the stock up nine percent.
With drilling going smoothly, logs also confirmed gas in Pliocene-era sandstone. The drill bit was inside the target reservoir, some 2,000 metres below the seabed.
A Mediterranean communique chronicled the rest: There are continuous oil shows on cuttings and on the shale shakers and associated drilling … These significant oil shows are also associated with good yellow fluorescence. The original No. 1 discovery well produced 400 barrels per day. No. 2 is just 1 kilometre east.
The Ombrina Mare oil discovery is estimated to hold 19.5 million bbls of net net contingent resources, with 89 MM bbls in place.
With drilling going smoothly, logs also confirmed gas in Pliocene-era sandstone. The drill bit was inside the target reservoir, some 2,000 metres below the seabed.
A Mediterranean communique chronicled the rest: There are continuous oil shows on cuttings and on the shale shakers and associated drilling … These significant oil shows are also associated with good yellow fluorescence. The original No. 1 discovery well produced 400 barrels per day. No. 2 is just 1 kilometre east.The Ombrina Mare oil discovery is estimated to hold 19.5 million bbls of net net contingent resources, with 89 MM bbls in place.
Source: Scandinavian Oil & Gas
No comments:
Post a Comment