StockMarketWire.com - Valeura Energy said it was pleased with flow results achieved from testing on a well in Turkey, but needed to conduct further work to assess their significance.
Comingled tests on the Devepinar-1 well yielded gas flow rates similar to the results measured from single intervals previously tested.
The average flow rate over the 11 day comingled test period was 908m cubic feet per day, and the gas flow for the final 24 hours of testing was 462m cubic feet per day.
In total, the well produced for about 20 days at an average rate of 1,106m cubic feet per day.
No condensate was measured during the testing.
'We are pleased with initial rates from each of the three stimulated intervals, and with the substantial data set we acquired through the comingled production flow test,' chief executive Sean Guest said.
'Further modelling work is needed to interpret the implications of the comingled test results, which will lead to establishing the next steps for our continuing appraisal of the deep gas play.'
Story provided by StockMarketWire.com
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