The Jenein Centre-1 exploration well at Jenein Centre in Tunisia has been
suspended due to an unsuccessful completion attempt on the first formation
tested. The well will be re-entered at a later date to complete the secondary
target of the well - the Ordovician formation. PA Resources has a 35 % interest
in the permit Jenein Centre.
Chinook Energy has announced that the Jenein Centre-1 exploration well, operated
by one of their subsidiaries, has been suspended following a completion attempt
on the Silurian Acacus Formation. A number of perforated levels in the Acacus
were evaluated. Some intervals were determined to be water bearing and others
seem to have been damaged during drilling. Data obtained during the test
operations will be evaluated to determine the extent of the damage and remedial
action will be carried out as required.
The secondary target for the well, the Ordovician formation, which is
prospective for gas and condensate, couldn't be completed and tested. The well
will be re-entered at a later date and a completion will be attempted on the
Ordovician formation. The existing well bore configuration does not allow for a
stimulation that will be required to produce the Ordovician.
The seismic shows a number of prospects and leads in the permit that will be
tested later by the operator once plans for further exploration on the block
have been decided.
Chinook Energy's subsidiary is the operator of the well with a 65% interest and
PA Resources has 35 % interest in the license.
Stockholm, 4 October 2010
PA Resources AB (publ)
For additional information, please contact:
Bo Askvik
President and CEO
PA Resources AB
Mobile: +46 708 19 59 18
E-mail:info@paresources.se
PA Resources AB (publ) is an international oil and gas group with the business
strategy to acquire, develop, exploit and divest oil and gas reserves, as well
as explore new findings. The Group operates in Tunisia, United Kingdom, Denmark,
Greenland, Netherlands, Equatorial Guinea and the Republic of Congo
(Brazzaville). PA Resources is one of the largest oil producers in Tunisia and
is also producing oil in the Republic of Congo. The parent company is located in
Stockholm, Sweden.
PA Resources' net sales amounted to SEK 2,113 million during 2009. The company
is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid
Cap) and on the Oslo Stock Exchange in Norway (segment OB Match). For additional
information, please visitwww.paresources.se.
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