BNK Petroleum Drills Polish Shale Gas Well

BNK Petroleum provided update on its Polish shale gas project.

BNK has successfully drilled, cased and cemented its Gapowo B-1 horizontal well with excellent gas readings regularly recorded throughout the lateral. The well successfully drilled the targeted over-pressured, gas charged, organic-rich Lower Silurian and Ordovician shales that were originally encountered in the vertical Gapowo B-1 well. The well has approximately 5,900 feet of lateral available to fracture stimulate.

The Gapowo B-1 well is believed to be the longest horizontally drilled well in Poland.

The high gas readings recorded during the drilling of the lateral were consistent with the characteristic high gas shows observed in the original vertical well, despite increased mud weight and a switch to oil-based mud. The conclusions of the log and core data analysis and sustained elevated gas shows in the lateral validate the company’s belief that the Lower Silurian and Ordovician shales are highly prospective for shale gas. The analysis indicated the shales have good total organic carbon, porosity and permeability. In addition, the company’s geological analysis indicates that these characteristics are likely to extend over a significant portion of the company’s Baltic Basin acreage. The company believes that it controls about 285,000 net acres that have good potential to produce natural gas and another approximately 285,000 net acres that are also prospective but have higher associated risk.

The company has prepared a completion design for this well that is based on the core analyses and knowledge obtained from previous wells and stimulations. The company’s current plan is to fracture stimulate approximately thirty percent of the available lateral length followed by an extended production test to optimize its design prior to fracture stimulating the remaining lateral.

Site modifications in preparation for the fracture stimulation will begin as soon as the drilling rig has moved off site. The site modifications including building the water handling facilities are expected to take a number of weeks after which the actual fracture stimulation can begin.