Ascent Resources sees better than expected results from Hungarian well
15 September 2009
Following the completion of test work on the PEN-105 gas well in the Nyírség permits of Eastern Hungary, Ascent Resources said it had seen “substantially higher” gas rates than had previously been expected.
The PEN-105 well is an appraisal of the PEN-12 discovery and was drilled to a total depth of 1,487m and has now been completed in the tuffaceous Miocene reservoirs as a production well.
Environmental permitting of the pipeline that will be used to bring the gas to market is complete and construction is planned so that gas sales from this well can start early in 2010.
Ascent said the productive reservoir found at the PEN-105 location is substantially thicker than at the PEN-12 discovery well, which should translate into a significant increase in anticipated reserves for the structure. The higher than expected flow rates are attributed to the use of state-of-the-art drilling mud and perforation technology.
PEN-105 is located some 6km west south west of the PEN-104A gas production well in which Ascent has a 45.23% interest. Other partners in the project include DualEx Energy (37.5%), Geomega (8%), Leni Gas & Oil (7.27%) and Swede Resources (2%).
Elsewhere and in Italy, Ascent has completed the permitting to allow it to begin drilling the Fontana 1 geological appraisal well located in the shallow part of the Anagni structure in the Frosinone Exploration permit in the Latina Valley.
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