Romania: Zeta Petroleum Commences Drilling at Musenita-1 well

Zeta Petroleum plc, has commenced drilling of the Musenita-1 exploration well on the producing Suceava gas concession in Romania.

Musenita is located 921 metres from the producing Climauti-1 well, where 16,000m3/day of gas is currently being recovered. Musenita is targeting shallow Sarmatian sandstone reservoirs analogous to those which are productive in the Climauti-1 well.

Musenita will be drilled to a target depth (‘TD’) of 550 metres which is expected to be reached in 10 days. A further 10 days will be required to complete logging and testing operations.

Zeta believes the Suceava concession has the potential to hold up to 80Bcf (unrisked) of shallow conventional gas.

If successful, Musenita will be completed as a production well and tied back to the Bilca Gas Processing Facility operated by Raffles Energy via a 921 metre tie-back to the existing Climauti-1 pipeline. Both the Bilca Gas Processing Facility and the existing Climauti-1 pipeline have excess capacity that can be utilised by production from the Musenita-1 well.

Zeta Petroleum plc Managing Director Stephen West said, “Musenita is drilling just one of many leads and prospects identified on the Suceava concession, which we believe has the potential to hold unrisked resources of up to 80Bcf gas. The combination of existing production on the concession, shallow depths of between 400-1,000m resulting in lower drilling costs, multiple targets and established infrastructure and facilities, makes Suceava a highly prospective gas development project and I look forward to providing updates on Musenita’s progress in due course.”

The Suceava gas concession is held as to 50% Zeta and 50% Raffles Energy S.R.L. as Operator.

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