Aurelian Updates on Polish Wells
London-listed Aurelian Oil and Gas has announced an end of year update for the company's Polish gas operations, with final results expected for the Krzesinki-1 exploration well in Poland by the end of this month.
Aurelian says the Krzesinki-1 well, part of the Poznan East licence on Block 207, is currently being appraised with results from flow testing that began on 27 December expected to be complete in the first half of January. The results will be added to an independent review of the Siekierki Project, of which Krzesinki-1 is a part. The results of the independent review will be released by the end of January, following the incorporation of Krzesinki-1's data.
The company has successfully renewed the Block 207 Poznan East licence until 12 February 2012. A separate renewal application for Block 208, which encompasses the Rotliegendes and Zechstein prospects, has been submitted. Aurelian expects this application to be approved shortly.
Aurelian is also planning to drill a new well on Karpaty East prospect in Poland following 2D seismic surveying. The prospect, which lies on the Carpathian Thrust Fold Belt, will be drilled in 2012. The company is also in the process of acquiring a further 268 kilometres of 2D seismic on the Bieszczady licence.
CEO of Aurelian Rowen Bainbridge said the results brought 2011 to a positive close.
"The past few months have been a busy time for the company with recent discoveries on Krzesinki-1 and Niebieszczany-1 and 3 year extension to Block 207 taking the company forward and bringing a positive end to the year," he said.
He also said further results from Krzensinki-1 would inform the company's 2012 strategy.
"We plan to provide a full update on Siekierki by the end of January, a month later than originally planned but importantly this will incorporate the key well test information from Krzesinki-1 and commercialisation options for the gas discovered to date," he said. "At this time we will also provide an update on the company’s strategy in the light of the Siekierki findings and the updated exploration prospect inventory."
He added: "Outside of Siekierki, Aurelian has a funded, material exploration plan of up to 10 wells that runs well into 2013. The significant investment over the past two years and updated exploration prospect inventory will provide further significant growth opportunities for the company."
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