OPERATIONS

Petsec completes two wells in Gulf of Mexico

Petsec has finished completions on the final reservoir intervals in the West Cameron 343 #A-17 and #A-18 wells after the bottom sands in both wells were completed in April. The wells are located off the West Cameron 'A' platform in the Gulf of Mexico.

Petsec completes two wells in Gulf of Mexico

The company said production began early this week and has stabilised with the three wells in the field producing at a combined rate in excess of 25 million cubic feet of gas per day.

The #A-17 well intersected three hydrocarbon bearing sands with a total of 18m net gas pay at #A-17 and #A-18 intersected four hydrocarbon bearing sands with a total of 41m of net gas pay.

Petsec earned the working interest in certain West Cameron 352 exploration rights by meeting the first US$1.25 million of costs to drill a well on the lease.

The earning well, West Cameron 352 NoA-13 well, intersected three hydrocarbon-bearing sands with a total of 23 metres of net gas pay.

Petsec immediately upgraded the "A" platform and production from the West Cameron 352 #A-13, West Cameron 343 #A-17, and #A-18 wells commenced on 23 January.

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