Ascent Happy with Slovenia Flow Test
London AIM-listed Ascent Resources said January 30 that a flow test on its PG-10 well in northeast Slovenia “exceeded management's expectations”.
The maximum stabilised flow rate was 8.8mn ft3/d, so in line with rates measured when the well was initially tested for a short period in 2011, and well above the minimum commitments required under Ascent’s gas sales agreement with Croatia-based INA, a company controlled by Hungary's Mol.
Location of Ascent's Petisovci block in Slovenia (Map credit: Ascent Resources)
Over the past three days, Ascent said it carried out a series of tests which would increase its understanding of the well and the gas reservoirs. CEO Colin Hutchinson said: "We are extremely pleased with the results from the Pg-10 test and we look forward to bringing gas to market in the near future."
Earlier this month Ascent said it expected to commence commercial production at this Petisovci block before the end of 1Q 2017.
Mark Smedley