Chinook cases, suspends Sud Remada well

Chinook announced that the Sud Remada TT4 exploration well has been cased and suspended awaiting completion.

Chinook's indirect wholly-owned subsidiary Storm Tunisia, is the operator of the TT4 development well and Remada permit with an 86 per cent interest. The well was drilled to the Cambrian at a total depth of 1,745 meters with the primary target being the Ordovician Jeffara and Bir Ben Tartar reservoirs that were originally encountered and proven productive in the TT2 discovery well 5.4km to the northwest.

An extensive logging and wireline testing programme undertaken over the Ordovician section confirmed that two zones interpreted as hydrocarbon bearing in the discovery well extend over a significant portion of the 60+ sq km structure. Completion operations are expected to commence in early March and involve multiple fracture stimulations of the Bir Ben Tartar, Jeffara and Tannezuft formations in the TT4, TT3 and TT2 wells. Although commercial production in excess of 100,000 barrels to date has been recovered from the TT2 discovery well, the majority of the net pay and oil in place is in rock with permeabilities below 1 millidarcy and will require a fracture stimulation to produce oil at commercial rates. Chinook submitted the Plan of Development to the Tunisian authorities for Bir Tartar (TT) on January 20, 2011 and has been actively engaged with Entreprise Tunisienne D'Activites Petrolieres (ETAP) as it progresses towards the granting of a concession by the Direction Generale de l'Energie (DGE), potentially as early as Q2 2011. Subject to receipt of notice of concession approval, Chinook will make preliminary plans to drill the TT5 development well in Q2 2011 and tentatively five additional development wells prior to year end 2011.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

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