Aurelian Taking Steps Towards 2012 Production
In reporting 2010 results, Aurelian Oil and Gas said that is looking towards 2011 as a pivotal year in its move towards transforming into a mature exploration and production company.
Chairman Rowen Bainbridge commented that over next two years, Aurelian looks to obtain first production in both its Siekierki Tight Gas project and the Lachowice Carpathian Conventional Gas project.
On its flagship Siekierki project, Aurelian will carry out the testing of the first two MFHWs, sanction and construct the pilot facilities and conduct long term production tests. At Lachowice, the company. will carry out a work over process.
First gas production from each of these projects is targeted for the second half of 2012.
The company stated that it will be acquiring 1,455 km of 2D and 3D seismic, across eight surveys, across its core areas in the coming year. These surveys will aim to increase the size of the Siekierki Tight Gas project, and, in the Carpathian Thrust Fold Belt, firm up 2011/12 drilling prospects, together with identifying new drilling targets for 2013 and beyond.
Earlier Aurelian said that was reorganising and refocussing its Romania operations towards its Carpathian Thrust Fold Belt Core Area, after undertaking a strategic review. (Read More HERE)
In Bulgaria, Aurelian said that it was disappointed with the lack of success of both the Golitza wells in Bulgaria, however it believes that the information from these wells can be integrated with the existing 3D seismic to high grade further exploration targets within the Avren Formation in the Golitza licence.
The significant gas shows from the Shkorpilovtci South West R-01 exploration well were encouraging and the company said that it would take this into account, together with the information gained from the first well on the programme, in arriving at a decision as to the extent of any future financial investment in this area.
Bainbridge said that Bulgaria is not a core area for Aurelian and the two wells ended the Company's current drilling commitment in the country.
Source: Aurelian Oil & Gas