 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
PrimeGen Energy's Kochmesskoye Oil Well Drilling Underway
Bridgewater NJ (SPX) Jun 19, 2009 With drilling underway at the Timan-Pechora Project, PrimeGen Energy should have investors monitoring the progress of the company and its developments very closely. Yesterday after the markets closed, the company issued a press release announcing that the "Kochmesskoye" well, which is the first of the previously announced multi-well development program, has commenced drilling at the Timan-Pechora project. This is great news, as according to the press release, the oil well is drilling ahead, and should reach the total depth within 10 days. The Company expects results on oil pay zone intervals and will have a very good indication as to the commercial viability of the well and productive oil flow rates shortly thereafter. PrimeGen will update results as soon as further news becomes available. The press release states that the Timan-Pechora Project area currently consists of 24 existing production oil wells with close to one billion barrels and 132 BCF of proven reserves. A discovery well tested 5,589 BOPD from zone at 3,958-3,974 meters. Timan-Pechora region is 17 kilometers from Ukhta, a major town in the Republic of Komi. The oil plays are situated approximately 1,200 km from Moscow. Its surrounding areas have well established infrastructure, allowing all year access for field operations. Power lines and a major highway pass through the territory. There is also a branch of the Transneft pipeline between Ukhta and Moscow that passes directly over the project. Additional transportation routes include a railway system, with the nearest terminal located close to Ukhta. Company President and CEO Robert Charlton said, "The news from Timan-Pechora is very promising and we look forward to announcing what we believe will be positive results in the short term. PrimeGen is entering a growth phase and we look forward to turning our strategic aims into practical reality as expeditiously as possible." Share This Article With Planet Earth
Related Links PrimeGen Energy Powering The World in the 21st Century at Energy-Daily.com
Iraqis feud over foreign oil contractsBaghdad (UPI) Jun 18, 2009 As the Iraqi government moves toward naming 35 foreign oil companies to be awarded long-awaited contracts to operate some of the richest oil fields in the world, many in the country's oil industry are up in arms because they fear Big Oil will have too much control over the nation's greatest treasure. "The service contracts will put the Iraqi economy in chains and shackle its independence ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook