After meeting with our partner Skyway Resources Inc. in the Carmangay project, we agreed to perform testing of a zone were the logs indicates oil content at the depth between 1435 and 1445m. Depending on the result from the testing of this zone, it was also agreed to thereafter test two gas zones at the depth in the area of 1100 m and 543-563m. Geological, these two formations correlate with area producing zones. There are several more minor zones that we may test later on.
Before we go back to test the above zones, we will go back to the well with open perforations (1416-1423m) to measure the present hydrostatic fluid level and run a gradio-manometer to establish the fluid level, ratio of oil and water, and density of the fluid. The first well test by swabbing recovered only 7m3 fluid to surface, and may be inconclusive. This test was carried out in -30degree C and with a wind chill factor equivalent to -50 degree C, and therefore terminated early. We tried again Thursday March 19th to get back to the well to perform a hydrostatic measurement and run a gradio-manometer, this after the well had been closed in for 9 days. This turned out to be very difficult as the service truck got stuck in the field road on the way to the well. The temperature had been very mild a couple of days before the attempt, and the road very muddy to the point of expression of “Road Ban period”, as is typical in spring-time. As soon as the conditions allow us to get to the well, necessary measurements will be made before testing of the other zones.
As we await road conditions towards site to be satisfactory, which are located approximately 8km from the main road, we are evaluating if it will be economically beneficial to jet in horizontal 100m, with the purpose to generate better inflow to the well.
After the test program is finished we will evaluate the further program in the Carmangay area, and then possibly exercise the option of drilling more wells and/or exploration activity. Further program is evaluated and carried out based on the results from the first well and financial backing.
The Company have today no debt or financial obligations, except for towards its shareholders. In other words the company is financed and based on equity only.
For more info or questions, please contact us.
Fredrikstad, Norway March 24th 2009
Nordic Petroleum ASA
Please call Mr. Arild Tolfsen for more info,
Mobile : +47 – 930 99 859,