Sunday, May 25, 2008

MOG's Ombrina Mare 2 provides 'very good results'

Mediterranean Oil & Gas had good results from a horizontal side track well drilled inside the carbonate reservoir at the Ombrina Mare 2 well offshore Italy.

MOG's geological prognosis and the oil appraisal expectations have been met. Transocean jackup George H. Galloway drilled the well to a total depth of 2,145 metres (7,037 ft) in 20 metres (66 ft) of water in the Adriatic Sea. A production test to verify the oil production rates obtainable should get underway in the next few days and be completed by the end of the month. MOG CEO Sergio Morandi said, "The programme to appraise the Ombrina Mare oil and gas field continues to provide very good results. The horizontal well has now appraised the Ombrina Mare structure for a considerable distance away from OM1 and encountered significant oil shows along the entire horizontal hole. Once the full production test is carried out we will be in a position to commission an assessment of the field volumetrics and reserves based on the appraisal results."

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