WELLINGTON, New Zealand, May 19 /PRNewswire-FirstCall/ -- Austral Pacific
Energy Ltd. (TSXV and NZSX: APX; AMEX: AEN) Austral Pacific advises that the
first test zone in Cardiff-2A was hydraulically fractured last week, with a
successful deep 'frac' being achieved. During the latter part of the
operation, the 'frac' sand backed up inside production tubing for
approximately 1,000 feet above the test zone. This sand needs to be removed
from the well before it can flow freely on test. The coil tubing equipment to
do this will not be available until the end of this month. However, despite
this inhibition, the well has been flowing and lifting drilling fluid in the
tubing to surface at a stable rate of several hundred barrels per day. Of
order 1,000 barrels of fluid remains to be lifted out of the well before the
reservoir is fully cleaned up. During the latter part of this operation, gas
has come to surface in increasing amounts and a flare has been sustained.
The second test zone is now being perforated, in order that it can be
flowed in the coming week. Clean-out of the tubing and flow-testing of the two
zones in combination is anticipated for the following week. CEO Dave Bennett
said "despite some operational frustrations, we are satisfied that the first
'frac' has been successful, that indicative flow potential is good, and that
gas is coming from reservoir to surface."
Other Activities
Cheal-A4 has been shut in, with 30,000 barrels of oil having been produced
at average rates in excess of 300 barrels per day; in order that the jet pump
equipment can be being switched to Cheal-A3X, from which similar flow rates
are anticipated. Cheal-A3X flow will commence shortly.
Seismic surveys have been successfully completed over the Angus Prospect
in PEP 38736, onshore Taranaki, and the Tolaga Bay Prospect in East Coast
Basin permit PEP 38330. An onshore-offshore survey over Inaha Prospect in PEP
38492 is scheduled for next month.
In Papua New Guinea, planning and securing of services for Douglas-1
continues, with the well scheduled for late this year.
CONTACT: Investor Relations: tel: +1 561 837 8057 ext 2 USA/Canada
Web site: http://www.austral-pacific.com Email: ir@austral-pacific.com
This release includes certain statements that may be deemed
"forward-looking statements." All statements in this release that address
future production, reserve potential or exploration drilling, are
forward-looking statements. Investors are cautioned that any such statements
are not guarantees of future performance and that actual results or
developments may differ materially from those projected in the forward-looking
statements.
SOURCE Austral Pacific Energy Ltd.
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Related links:
http://www.austral-pacific.com
CONTACT:
investors, +1-561-837-8057, ext. 2,
USA/Canada, or ir@austral-pacific.com, for Austral Pacific Energy
Ltd.
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