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 an...

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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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