StockMarketWire.com - Oilex [LON:OEX] was one of the sector's biggest risers after confirming that the Cambay-20 workover had been completed on time and under budget, including partial replacement of the production tubing.

Installation of the HLP unit and downhole pump has commenced to optimise production from the well. Cambay-20, an intermittent oil and gas producer, is located approximately 200 metres from Cambay-77H and connected to Cambay-73 gas production facilities via a temporary flowline to recover gas for sale during intermittent oil production.

Cambay-19z:

The pumping rate for the removal of workover brine was reduced from the anticipated 40bbls per day as a result of mechanical downtime required to adjust the HLP automatic controls and replace a hydraulic seal. Although Cambay-19z is an oil producer from the Eocene (EP IV) formation, associated gas has arrived at surface with sufficient pressure and volume to power the HLP. During the HLP downtime, Cambay-19z has exhibited self-flow bypassing the downhole pump again confirming good potential deliverability. Cambay-19z is located approximately 1.4 km to the west of Cambay-77H.

Cambay-77H:

Cambay 77-H workover has commenced with the placement of a downhole production packer using an electric wireline unit. This packer isolates the frac'd reservoir section of the well such that the frac tree can be replaced with a production tree and production tubing can be installed. A workover rig is expected to be operational on site around 25 November. As previously announced, Cambay-77H will be connected to the Cambay-73 facilities via the temporary flowline with gas sold into the low-pressure market in the immediate vicinity of the field.

The Cambay-60 workover will commence after completion of Cambay-77H. Cambay-60 tested gas and condensate from the OSII formation but was never put into production. Some surface equipment requires replacement to ensure that the well is in optimal condition and its deliverability confirmed.

Managing director Ron Miller said: "The Cambay workover campaign continues with the successful completion of activities at Cambay-20 on schedule and under budget. Gas at surface, sufficient to run the HLP unit, is a positive sign and a significant cost reduction compared to purchasing LPG. These workovers deliver low cost increases to our gas sales and cash flow and the performance of the Operations team to deliver them on schedule and under budget is very pleasing."

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Tullow Oil [LON:TLW] said the Emesek-1 exploration well in Block 13T, northern Kenya, has reached a total depth of 3000 metres without encountering commercial hydrocarbons. It will be plugged and abandoned.

The PR Marriott 46 rig will move to the South Lokichar basin to drill the Etom-2 well which is expected to spud in late November.

Tullow operates Block 13T with 50% equity and is partnered by Africa Oil Corporation, also with 50%.

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The sector's biggest risers were Caza Oil & Gas [LON:CAZA] and Hardy Oil & Gas [LON:HDY] - up by 25% and 10.9% in late trading. The biggest fallers were Petroneft Resources [LON:PTR], Ascent Resources [LON:AST] and Providence Resources [LON:PVR] - down by more than 11.8%, over 7.1% and over &% respectively.





At 4:01pm:

[LON:AUR] Aurum Mining PLC share price was +0.01p at 0.93p

[LON:BOR] Borders Southern Petroleum PLC share price was +0.01p at 1.98p

[LON:CAZA] Caza Oil Gas Inc share price was +0.08p at 0.38p

[LON:CHAR] Chariot Oil Gas Ltd share price was +0.15p at 6.43p

[LON:ENQ] EnQuest Plc share price was -0.12p at 23.13p

[LON:FOGL] Falkland Oil Gas Ltd share price was +0.01p at 10.01p

[LON:GKP] Gulf Keystone Petroleum share price was +0.38p at 26.13p

[LON:GPX] Gulfsands Petroleum PLC share price was 0p at 4p

[LON:HDY] Hardy Oil Gas PLC share price was +2.13p at 21.63p

[LON:INDI] Indus Gas Ltd share price was -0.5p at 118.5p

[LON:OEX] Oilex Ltd share price was +0.1p at 0.7p

[LON:PET] Petrel Resources PLC share price was +0.01p at 3.63p

[LON:PTR] Petroneft Resources PLC share price was -0.35p at 2.6p

[LON:RKH] Rockhopper Exploration PLC share price was -0.37p at 34.63p

[LON:RPT] Regal Petroleum PLC share price was +0.01p at 3.88p

[LON:TLW] Tullow Oil PLC share price was +4.55p at 194.75p

[LON:XEL] Xcite Energy Ltd share price was -0.87p at 19.88p



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