20 April 2015
Celtique Energie Petroleum Ltd (“Celtique”) note the February 2015 and March 2015 announcements from Egdon Resources (‘Egdon’) as operator of UK Licence PEDL 180 in East Lincolnshire (‘PEDL 180’) with respect to the Wressle-1 discovery (‘Wressle’).
The four tested intervals at Wressle resulted in total aggregate hydrocarbon recovered equivalent to 710 barrels of oil equivalent per day (‘boepd’).
Down-hole pressure data recorded during testing and oil sample data recovered will be interpreted and integrated with the data to evaluate the permeability of the reservoirs and to determine the potential oil rates that could be achieved during pumping conditions. The results of the analyses will facilitate the design of the Extended Well Test (‘EWT’) programme necessary to quantify the production levels that could be attained from pumped production and inform field development options. The EWT is expected to commence in May 2015 for a period of two months.
Celtique has a 33.3% working interest in PEDL 180, alongside Joint Venture partners Egdon Resources (operator, 25%), Europa Oil and Gas (33.3%), Union Jack Oil (8.3%).