Oz ADX Readies For Romanian Well
Australia-based ADX Energy is preparing to sink an exploration well at the onshore Iecea Mare production licence in Romania.
The junior explorer reported on July 29 that road and site construction was nearing completion. This will allow the company to mobilise a drilling rig and spud the Iecea Mica-1 appraisal well. Drilling is slated to start August 6, after the rig has been assembled, tested and commissioned.
Iecea Mica-1 is effectively a re-drill of a previous 2,350-metre well that discovered gas in the 1980s. It will target multiple gas zones indicated by 3D seismic data, including a flow-tested gas zone and a deeper uncontrolled gas flow.
The well will be deepened to 2,600 metres to evaluate larger untested layers. Other fields in the area contain proven oil at this depth.
The shallower targets are estimated to hold 6.1bn ft3 of contingent gas resources and 13bbn ft3 of prospective gas resources, while the deeper targets hold 16bn ft3 of gas and 2mn barrels of oil in best-estimate prospective resources.
If successful, the well should de-risk several follow-up prospects that ADX has identified from existing 2D and 3D seismic data.
ADX owns a 63% stake in Iecea Mare, while its UK-based partner Reabold Resources holds the remaining 37% interest. The firm also controls the adjacent Parta exploration area, where it completed a 50% farm-out deal earlier this month to Australia’s Parta Energy to fund a $1.5mn 3D seismic shoot.