Imperial Energy - Ölförderer in Sibirien - 500 Beiträge pro Seite

[Kusoke]

Imperial Energy Corporation Announces A Production And Drilling Update
Friday, July 14, 2006

Key Points

• Fourth appraisal/production well of the 2006 programme at Snezhnaya field, Block 77, successfully fracced.
• Production testing on Snezhnaya so far achieves rate in excess of 2,200 bopd from six wells out of ultimate total of seven drilled to date.
• New horizontal well, Maiskaya 394, initially tested at 1,700 bopd with good quality oil.
• Work on other appraisal/production and exploration wells continuing in line with expectations.
• Pipeline planning and preparations progressing.
• Relinquishment of non-prospective licensed areas in Blocks 95 and 96 gives estimated savings of around US$30m in work programme commitments.
• Remain on track to achieve target production of 25,000 bopd by the end of 2008.

Snezhnaya Field, Block 77, Tomsk, Western Siberia

Snezhnaya 137, the fourth of the 2006 Series of appraisal/production wells has now been fracced successfully giving a 100% fraccing success in all seven wells so far drilled at Snezhnaya. Imperial is now engaged in bringing into pilot production those seven wells.
During production testing an aggregate rate of in excess of 2,200 bopd has been achieved from six out of the ultimate total of seven appraisal/production wells being brought on stream.

Early production facilities are being completed and commissioned with oil currently being barged out for sale.

Maiskaya Field, Block 70, Tomsk, Western Siberia

Following on from the very encouraging Maiskaya 393 well, a new horizontal well, Maiskaya 394 has been drilled to address the prospective Jurassic Vasugan formation in this field. Drilled successfully with a 311m horizontal section at a vertical depth of 2664-2668 metres, the well produced an initial rate of around 1,700 bopd of clean oil, 39 degrees API with no water. Further tests are taking place to identify the stabilised rate.

The excellent rates so far achieved confirm the potential for horizontal wells to deliver significant quantities of oil from the Vasugan section in this field.

Production from this section will be in addition to the delivery of oil from the principal oil producing horizon in this field being the Tumen which was previously successfully tested in Maiskaya 393.

General Developments

Work continues to progress in relation to other appraisals/production as well as exploration wells and further news on these will be released during the course of the year as appropriate.

As previously advised on 10 May 2006, Imperial intends to build two new pipelines, one of which will connect Blocks 69 and 70 and the other which will connect Block 77 to the Transneft system. Planning and preparation are progressing with the necessary detailed negotiations and approval gathering under way.

Imperial has now successfully relinquished five non prospective licences in the Tomsk region. The licensed areas, comprised in Blocks 95 and 96, did not contain any prospects identified by Imperial and the relinquishment means estimated savings of some US$30 million in work programme expenditure. This saving allows Imperial to concentrate its resources on its other, highly prospective, acreage where a twelve well exploration programme addressing entirely new prospects during the remainder of this year and 2007 is programmed in addition to some forty new production/appraisal wells to be drilled during the same period. A favourable timing amendment to the licence comprising Block 74 has been agreed at the same time as the relinquishment.

Analysts and Institutional Visit
A visit by analysts and some of Imperial’'92s major institutional shareholders to Moscow and Tomsk will take place between 16 and 19 July 2006. No new material information will be selectively disclosed during this visit.

Peter Levine, Chairman and Chief Executive, commented:
“Step by step Imperial continues to make progress both in early production and gaining commendable drilling results from its so far identified fields. In this, the excellent Maiskaya 394 is particularly notable.

With some US$200 million of cash as a result of the recent placing, no debt and nil gearing, production and significant exploration upside, we continue to view the future with great confidence, and remain on track to achieve our stated production target of 25,000 bopd by end 2008. ”

Quelle und Informationen/Diskussionen: http://www.em-forum.com/viewtopic.php?p=772#772

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Kusoke

[mfierke]

Antwort auf Beitrag Nr.: 22.682.299 von Kusoke am 18.07.06 07:38:16

[Kusoke]

Antwort auf Beitrag Nr.: 22.682.299 von Kusoke am 18.07.06 07:38:16

ATON dazu:

Imperial Energy. Successful horizontal well flow of 1.7kbpd; fracturing program continues
Imperial Energy Company (IEC) on Friday reported initial oil flows of 1.7kbpd from the first horizontal well in the Maiskaya field, confirming earlier exploration success in the prospect. The company also announced the successful fracking stimulation of the fourth well in the Snezhnaya field, placing the subsidiary's combined production level above 2.2kbpd.

IEC also stated that it has disposed of five licenses on blocks 95 and 96, due to the lack of prospects. The company estimates that it may save some $30mn from the required exploration program.

Output at Snezhnaya has been reported from six operating wells in pilot production, each with an average flow in excess of 360bpd. The addition of the seventh well is forecast to increase total field output to over 2.5kbpd.

Good results from the Maiskaya exploration wells (with initial flows of 750bpd from vertical wells and 1.7kbpd from horizontal ones) should establish the economic viability of the Vasyugan development, and may lead to an upgrade in reserves.

All of this is positive for the company. With Friday's share price of $16.47, and the firm's reported cash position in excess of $200mn (boosted by a recent equity placement), an estimated EV of $620mn gives IEC a 2P reserves multiple of $2.5 per barrel. This is cheap compared to its peer group (the range is $3.6 to $6.2 per 2P barrel of reserves).

Our recommendation on Imperial Energy is Buy.

Quelle: Aton.ru

Kusoke

[Kusoke]

Antwort auf Beitrag Nr.: 22.682.880 von Kusoke am 18.07.06 07:57:50

News: Imperial Energy. Signs MOU with Gazpromneft to develop oil and gas fields in the Tomsk region

zu finden hier:http://www.em-forum.com/viewtopic.php?p=778#778

Kusoke