Vegas Wins The Bet In Northwest Gemsa - Africa’s premier report on the oil, gas and energy landscape.

Vegas Wins The Bet In Northwest Gemsa

Circle Oil has announced the successful re-entry and sidetrack of well Al Amir-1X, in the North West Gemsa Concession, Egypt. Al Amir-1X encountered oil in a single pay zone in April 2005. This re-entry was done to redrill and test a new sidetracked section of the well in order to re-appraise the well as a potential producer. Following sidetracking to a total vertical depth of 1606metres, two pay zones have been identified.

The previously discovered upper pay zone in the Gharib formation dolomites has been confirmed by the sidetrack well. This upper zone has been tested with a sustained rate of 416 BOPD. A new lower pay zone has also been encountered in the Gharib formation dolomites. The company intends to test and confirm the flow rate potential from the new lower pay zone when the well is brought into commercial production.

Vegas Oil and Gas operates the North West Gemsa Concession with 50% interest and partners include Circle Oil Plc (40% interest) and Premier Oil Plc (10% interest). The concession covers an area of over 400 square kilometers and lies about 300 kilometers southeast of Cairo, in a partially unexplored part of the Gulf of Suez Basin. The concession agreement includes the right of conversion to a production license of 20 years, plus extensions, in the event of commercial discoveries. The Egyptian General Petroleum Corporation (“EGPC”) has given a position response to the partners’ ‘Declaration of Commerciality’ submission made to them for both wells.  Development plans to bring the wells into early commercial production have also been submitted to EGPC.

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