BNK Petroleum Provides Poland Update
BNK Petroleum Inc. has announced that the Miszewo T-1 well, on the Trzebielino Concession in Poland held by BNK's’s 100% owned subsidiary, Indiana Investments Sp. z o.o. ("Indiana"), has been drilled to a depth of approximately 5,400 meters.
Muted gas shows were recorded while drilling and coring in the target intervals of the well. A full suite of wireline logs were run which suggest that the facies of the target intervals have changed due to a different depositional environment likely related to faulting. The Company acquired 505 meters of whole core, which will be analysed to verify the wireline log readings and to provide additional basin information. BNK has suspended the well and released the drilling rig.
Early core analysis from the Silurian portion of the Gapowo B-1 core verifies the Company’s belief that the Gapowo B-1 well was drilled in a portion of the basin that is highly prospective for shale gas. The core data is showing that the lower Silurian has higher porosities, permeability and Total Organic Carbon than in the comparable intervals in all other Baltic Basin BNK Petroleum Inc. operated wells.
The Company has also received the gas isotope analyses which indicates overpressured, higher permeability shales. These analyses also validate the high gas readings observed while drilling the Gapowo B-1 well. As previously reported, the average total gas readings were over 20 times higher and maximum total gas readings were over 45 times higher than those seen in the Lebork S-1 well. These higher gas shows occurred despite the significantly higher-weight drilling muds used in the Gapowo B-1 well and the related slower rates of penetration. The Company is still awaiting the core analysis results of the Ordovician interval.
Incorporating the new data into the geologic model indicates that the prospective zones in the Gapowo B-1 well still extend over a significant portion of BNK’s Indiana concessions. The Company is awaiting the full concession modification approval, which will allow the re-entry of the Gapowo B-1 well to drill a horizontal leg to test these highly promising zones.