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Thursday, September 28, 2006
The Artumas Group has completed the logging and drill stem testing of the Mnazi Bay-2 well. The company’s test covered five separate sandstone horizons in the Tertiary Oligocene and Miocene formations. According to Artumas, the logging and testing results of these horizons have exceeded the expectations from the original geological and geophysical interpretations of seismic and the Mnazi Bay-1 well.
The Mnazi Bay-2 well encountered a total of 103 feet of net pay in four sandstone horizons between 5,576 and 6,340 feet measured depth. Mnazi Bay-1 has by comparison 69 feet of effective net pay.
Preliminary Absolute Open Flow (AOF) for the upper four sands range from 140 to 427 million standard cubic feet per day (Mmscf) per day. In comparison, the maximum AOF rate for the first well was 85 Mmscf per day. Combined flow rates for the tested horizons of MB-2 were 34.6 Mmscf per day on a ½ inch choke with less than 2% pressure drop at the reservoir.
Preliminary reserve estimates have the Mnazi Bay-2 well drainage area holding approximately 87 billion cubic feet (Bcf) of natural gas in place and 60 Bcf of recoverable reserves based on 640 acre spacing. High permeability measurements range from 500 to well over 1,000 milidarcies in the four upper sands. Condensate and hydrocarbon liquids have been produced with the gas. Samples will now be submitted for independent analysis. Artumas said the well will be completed immediately. The reservoir section of well has been cased with 7 inch liner, cemented and will subsequently be tied-in for long term testing.
The results of the Mnazi Bay-2 appraisal well extending the Mnazi Bay Field structure updip confirms the planned drilling program and the follow-up drilling of Mnazi Bay-3 appraisal well. The Mnazi Bay-3 will be drilled approximately 1.5 km east of the last well and upon completion, an updated independent engineering reserve report will be made available.
Commenting on the success of MB-2, President & CEO Stephen Mason stated, “The positive testing results confirm the substantial reserves of the Mnazi Bay Natural Gas Field. As a result, Artumas is entering into discussions to finalize commitments for commercialization with its various off-take market opportunities. East Africa is facing an energy crisis with extensive load shedding being experienced in Tanzania, Kenya and Uganda. Mnazi Bay natural gas will provide a much needed solution to energy-starved East Africa.”
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