The well was brought into production after the Main Pass 270 B platform was installed earlier this month, with production expected to ramp up in coming weeks to the target rates. 

 

Production was tested at the end of 2016 over 48 hours with the last three hours recording rates of an average 19.88 million cubic feet of gas per day and 396 barrels of oil on a 16/64 inch choke with a flowing well head pressure of 9753psig. 

 

Well logs indicate additional potential reservoirs in this well, and these untested sands will be targets of future drilling, Petsec said. 

 

Significant production occurs for similar reservoirs along trend with peak production rates from those intervals exceeding 25MMcfpd and 1000bopd. 

 

The initial design capacity of the B platform facilities is for rates of more than 50MMcfpd, and 1000bopd which will accommodate the discovery well, Main Pass 27-3 BPI. 

 

Those facilities and the designed expansion space available on the deck will allow for production capacity to be expanded to accommodate increased production from additional wells drilled from the B platform and the proximal well head platform. 

 

After delays in Yemen thanks to local government insistence on oilers using trucking to transport oil, without the government actually making the decision to allow such changes, the GoM good news is a boon for the Aussie junior. 

 

Petsec has a 12.5% interest in the Hummer project, earning 10.74% net revenue interest; the other joint venture partners are privately listed companies. 

 

Petsec was trading up by nearly 16% at 9.5c this morning.