Petroceltic Updates on Algeria Operations

Petroceltic International plc, the upstream oil and gas exploration and production company focused on North Africa, the Middle East and the Mediterranean, issued a further update on well test results from well AT-9 at the Ain Tsila field in Algeria.

Petroceltic operates the permit with a 56.625% interest, Sonatrach holds a 25% interest, and Enel holds an 18.375% interest, pending final ratification by the Algerian authorities.

AT-9 test results update

Following debottlenecking of the surface flow lines at well AT-9, the well has now tested at a maximum flow rate of 67.6 mmscf/d. This test was without fracture stimulation and is still constrained by surface facilities. The updated complete well test results are as follows.

Brian O’Cathain, Chief Executive of Petroceltic, commented:

“It is particularly pleasing to close this final well test from the Ain Tsila field appraisal programme with this excellent result, which we understand to be the among the highest gas flow rates ever achieved from an “unfracced” Ordovician well in Algeria. The relatively high flowing well head pressure indicates that the well could potentially deliver at higher rates in a production setting and underlines our confidence in achieving our planned development plateau rates of 400 mmscf/d.”

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LNG World News Staff, December 15, 2011