Newspaper article THE JOURNAL RECORD

Vintage Releases Test Results on Wells

Newspaper article THE JOURNAL RECORD

Vintage Releases Test Results on Wells

Article excerpt

TULSA (JR) -- Vintage Petroleum on Monday reported that the first of three exploration wells on the S-1 Damis Block in the Republic of Yemen has been drilled and cased through the targeted Alif zone.

The An Naeem #1 well was drilled to a total depth of 5,288 feet to evaluate a possible extension of the Halewah field on the adjacent concession, which currently produces 25,000 barrels of oil per day from the Alif zone. The An Naeem well encountered what is interpreted on open hole logs to be 100 feet of potential net pay in the Alif zone.

Initial testing of the formation is underway to determine the existence of oil in commercial quantities with results anticipated in a few weeks, according to Tulsa-based Vintage. Subsequent to testing the An Naeem #1, the drilling rig will be moved to the second prospect, the Harmel #1, to test a separate Alif prospect which, like the An Naeem, was identified through the interpretation of recently acquired 3-D seismic. The location of the Harmel well is five miles southwest of the An Naeem well.

Depending upon the results of the An Naeem and Harmel wells, the third well of the initial program will be drilled either on the Fordus prospect or on a prospect that is an offset to the An Nageyah well drilled by Shell in the early 1990's which showed apparent pay in the sub-salt Lam formation.

Although there is substantial oil production in the region, the risks associated with exploration in the area include finding a predominantly gas reservoir for which there is no current commercial market and finding an oil accumulation but in non-commercial amounts.

Vintage is operator of the project and has a 75 percent interest in the S-1 Damis Block.

Bolivia Exploration Vintage also announces the results of its NJL X-105 well drilled in the company's Naranjillos concession in the province of Santa Cruz, Bolivia. …

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