Zenith: Melding Rob-1!

Joppen
ZENA-M 24.06.2022 kl 10:58 847

Ny melding angående Rob-1 og Rob-3.

https://newsweb.oslobors.no/message/565733
Joppen
24.06.2022 kl 10:59 850

The Company can confirm that ROB-1 has successfully been returned to production following the installation of a new packer supplied by Weatherford and the previous determination of major corrosion in the casing being the cause of water ingress in the wellbore.

ROB-1 is currently producing at a rate of approximately 30 barrels of oil per day (“BOPD”) with the installation of the recently acquired new Weatherford sucker pump. It is the Company’s expectation that a production rate of between 40-50 BOPD might be achieved once the well is given additional time to stabilise.

The Company is of the view, in consideration of the well’s age and condition, that any significant change in the production parameters would risk compromising ROB-1’s structural integrity and long-term productivity.

Robbana-3 well (“ROB-3”)

As previously announced, the Company has selected the well location for the drilling of ROB-3, a new well that will reach a total target depth of approximately 2,500 metres, following an in-depth geological and reservoir review enhanced by new information obtained during the workover of ROB-1.

Civil works are expected to begin during the month of September 2022, with a commercial tender for the selection of a drilling services contractor to be conducted during the coming months, alongside completion of the necessary local approval process in accordance with applicable Tunisian legislation.

Drilling activities are expected to commence in November 2022, following the mobilisation of a drilling rig to the well location.

The necessary long-lead items have already been acquired and are being held in storage by the Company and funding for ROB-3 is expected to be obtained by way of the Company's existing cash reserves.