Petroceltic Has Mixed Results In Nile Delta

Scottish independent Petroceltichas plugged and abandoned its Mesaha-1 exploration well, but got successful in South Damas 2 development probe. Both wells are in Egypt.
Mesaha 1 was abandoned after the firm failed to find hydrocarbon indicators in the hole.
The company says that the well has provided significant new data on the Mesaha basin statigraphy, which will be incorporated in a review of the regional geology prior to the planning of any future work on the block. Mesaha-1, drilled to a total depth of 2,129metreswas finalized at a cost of $10.3 million(gross) Petroceltic holds a 40-percent working interest in the concession.
Petroceltic says that South Damas-2 development well, in the Nile Delta, has been successfully drilled to 1,432metres and completed using the Tanmia-1 rig and is expected to begin production in late February. The well is expected to increase the total South Damas field production rate to more than 20 million cubic feet of gas per day(from 12 million cf/d).