Trinity Exploration makes progress at Jacobin oil discovery

Trinity Exploration updated the market on its operations at the Jacobin oil discovery in Trinidad and Tobago on Wednesday.

The AIM-traded company reported that, on 23 October, the Jacobin well experienced an encouraging flow, producing 113 barrels over seven hours, consisting of 34 barrels of oil and 79 barrels of completion fluid.

However, a sand plug formed in the well, requiring intervention.

To address the blockage, Trinity deployed a coiled tubing unit, successfully removing the obstruction by reaching a depth of around 9,700 feet.

Subsequently, on 4 November, efforts to restore production from the well began, initially using a 3/64th-inch choke and gradually increasing to an 8/64th-inch choke.

The firm said the well was currently in the process of cleaning up, and the initial mixed flow included oil, water from the coiled tubing unit operation, and completion fluids.

Notably, there were no visible signs of sand at the surface.

Trinity said it intended to restart the production test soon to obtain a sustained flow rate for the well.

The company’s current operations focused on the deepest of three discovered oil-bearing horizons within the well.

Although the zone was relatively thin at just five feet, it was highly pressurised.

As a result, there was a risk that sustained production from the zone could be compromised.

However, Trinity said it had identified two thicker oil-bearing zones located up-hole, which were expected to contain larger connected volumes of oil.

The company said it was planning to provide flow rate data once stabilised information was available and would share details of the next phase of operations in due course.

“We continue to clean up the lowest of three zones in the Jacobin discovery in advance of further testing,” said chief executive officer Jeremy Bridglalsingh.

“Thereafter, we look forward to moving up-hole to carry out testing on what we expect to be the more productive upper zones.

“The onsite team has worked hard to progress operations and we are actively assessing the most constructive way to advance the near-term production potential of Jacobin.”

At 1258 GMT, shares in Trinity Exploration and Production were down 5.8% at 65p.

Reporting by Josh White for Sharecast.com.