Vegas Oil and Gas is drilling an appraisal to the Al Ola-1 discovery/producer in Egypt’s North West Gemsa Concession. Al Ola-3 is also an injector well, targeting the Kareem sands, located to the south of Al Ola-1 and Al Ola-2 wells. The rig was mobilised to the site, following the successful completion of the AASE-12X ST1 well, which is in the south central part of the AASE field, in the same acreage.
Vegas operates the NW Gemsa concession with 50% and its partners include Circle Oil(40%) and Sea Dragon (10%). Gross production from the AASE, Geyad and Al Ola fields is approximately 9,300BOPD(gross).