Serinus Energy announce the flow-test results of the Moftinu – 1004 well. The well flowed 6.0 million standard cubic feet per day (“MMscf/d”) (approximately 1,000 boe/d) on test. As previously announced, the Moftinu – 1004 well was drilled to 1,000 metres.

The well has five gas-bearing zones that appeared on logs: A2 sand; A2.2 sand; A3 sand; B1 sand; and B3 sand. The three deeper zones were completed, being A2 sand, A2.2 sand, and A3 sand. The two shallower zones had gas pay on logs but were not completed. These zones may be exploited later in the life of the well. 

Map source: Serinus Energy

After completing the perforation and well completion operations, the Company initiated a flow test whereby all three deeper zones were tested comingled. The well testing procedure and results are as follows:

• Moftinu-1004 was flowed on a 20/64” choke for 4 hours followed by a 4 hour build up, then flowed on a 32/64” choke for 4 hours followed by a 4 hour build up, then flowed on a 40/64” choke for 4 hours followed by a 4 hour build up, and then lastly flowed on a 36/64” choke for 15
• hours.
• On the largest choke size (40/64”), the well flowed at an average rate of 6.0 “MMscf/d” with no progressive pressure decrease throughout the test.
• During the final flow period (15 hours) on a reduced choke size (36/64”), the well flowed at 5.5 MMscf/d with no progressive pressure decrease throughout the test.

The well has now been put on a five-day pressure build-up after which the well will be tied into the completed flowline connecting to the Moftinu gas plant. 

Moftinu discovery

• The Moftinu discovery is a shallow-gas multi-zone field discovered by Serinus in 2014. Five unsuccessful legacy wells had been previously drilled on and around the structure during the 1970s, but it wasn’t until the acquisition of 3D seismic in 2012 that the structure and target reservoirs could be properly defined, primarily through the use of direct hydrocarbon indicators from seismic amplitudes. The 3D seismic program of 2012 was instrumental in accurately defining and de-risking the traps of the Moftinu discovery.
• Additional near-term low-risk exploration potential has been identified in areas immediately adjacent to the Moftinu development. These opportunities share the same reservoir, trap, seal and charge characteristics as Moftinu. Repeatable successes are expected.

Hydrocarbons have been produced to surface at commercial rates, on test, in several legacy wells throughout the block. These discoveries represent significant low-risk exploration and development opportunities with the future application of modern geophysical techniques, well-log evaluations and drilling and completion technology.

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