Serinus Energy reports results of Moftinu-1004 flow test

The AIM-traded firm had previously announced that the Moftinu-1004 well was drilled to 1,000 metres.

It said the well had five gas-bearing zones that appeared on logs - A2 sand, A2.2 sand, A3 sand, B1 sand, and B3 sand.

The three deeper zones were completed, being A2 sand, A2.2 sand, and A3 sand, and the two shallower zones had gas pay on logs, but were not completed.

Serinus said those zones could be exploited later in the life of the well.

After completing the perforation and well completion operations, the company initiated a flow test, in which all three deeper zones were tested commingled.

The well testing procedure and results showed that Moftinu-1004 was flowed on a 20/64" choke for four hours, followed by a four hour build up, then flowed on a 32/64" choke for four hours followed by a four hour build up, then flowed on a 40/64" choke for four hours followed by a four hour build up, and then lastly flowed on a 36/64" choke for 15 hours.

On the largest choke size, being 40/64", the well flowed at an average rate of six million standard cubic feet per day, with no progressive pressure decrease throughout the test.

During the final flow period of 15 hours on a reduced choke size of 36/64", the well flowed at 5.5 million standard cubic feet per day, with no progressive pressure decrease throughout the test.

“The well has now been put on a five-day pressure build-up after which the well will be tied into the completed flowline connecting to the Moftinu gas plant,” the board said in its statement.

At 1047 GMT, shares in Serinus Energy were down 2.44% at 10p.