Petroceltic kicks off drilling at Isarene permit

PETROCELTIC HAS COMMENCED drilling operations on the Isarene permit in Algeria. Drilling began in the INE-2 well on May 16, 2009.

The overall program of wells planned for the Isarene permit by Petroceltic and its
co-venturer Sonatrach is for five to seven wells. Allowing for rig moves and drilling times, the second well of the program (AT-1) is expected to begin drilling operations at the time of going to press. The Company plans to test and where necessary fracture the objective reservoir sections of the wells drilled without using the drilling rig (“rigless testing”). The rigless testing approach has many operational benefits, and reduces cost and program length overall. The first two wells in the program will be drilled and suspended ready for testing before the test crew is mobilised to the block.
The optimised operations plan requires the wells to be tested once the rig has completed drilling and completion operations and has departed from each well site. The testing will then be carried out as a continuous batch process independent of rig operations.
Brian O’Cathain, Chief Executive of Petroceltic commented, “We are delighted to have started drilling again on Isarene. This is our first drilling operation on the license since we acquired almost 1000 sq km of wide azimuth 3D seismic on the Ain Tsila ridge. We hope to test and appraise the existing gas accumulations on Isarene with this drilling campaign.”

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

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