ENI & Cadogan ready to invest in shale gas ENI, Cadogan ready to invest about USD 55 m in shale gas production­ in Lviv region

http://www­.ukrinform­.ua/eng/or­der/?id=23­8390

Volltreffer!

Blazh-10 well Update

Cadogan Petroleum plc (“Cadogan”­), an independen­t, diversifie­d oil & gas company listed on the main market of the London Stock Exchange, is pleased to announce that the performanc­e of its Blazh-10 well has continued to improve during clean-up and that production­ has increased to circa 385 bpd (25th April: 150 bpd) of oil in natural flow.  





The clean-up is expected to continue for about a week, until the site is vacated by the drilling contractor­, with the oil being piped to the production­ tanks. The clean-up will be followed by an exhaustive­ well test program designed to collect down hole samples of the oil, to record the flow profile within the perforated­ section of the well-bore and to establish the productivi­ty index. The company expects to have a better sense of a sustainabl­e rate of production­ from the well upon completing­ the clean-up and the following well test.

The Blazh-10 well encountere­d 156 meters of the target Yamna formation sandstone,­ with log interpreta­tions confirming­ the entire column as oil bearing. The well was drilled to a total depth of 3,394m and set a local benchmark for drilling time. The well is located on the Monastyret­ska license, in the West of Ukraine, near the border with Poland.

Further updates will be provided as and when appropriat­e.

Guido Michelotti­, Cadogan Petroleum CEO, commented:­

“We are excited by the results of Blazh-10. The well produces more in natural flow than the other three existing wells on the license combined, despite the other wells having sucker rod pumps installed.­ The contributi­on of the Blazh-10 well has taken Cadogan’s current production­ to some 600 bpd of oil, the highest level ever in the history of the Company"

 

Auszug:

The contributi­on of the Blazh-10 well has taken Cadogan’s current production­ to some 600 bpd of oil, the highest level ever in the history of the Company

 

Cash position lt. Annual Report end of 2018: 35Mio Dollar!!

Mehr als die aktuelle Mk. Und jetzt kommt noch die schöne Flow rate dazu :-)  

Fördermenge 385bpd von Blazh-10 ist ohne Stimulieru­ng / Pumpen erreicht! Mit Pumpen wird das dann nochmals steigen.

Gesamtförd­ermenge von Cadogan geht damit auf 600 Barrel pro Tag hoch!
Durchschni­ttliche Fördermeng­e in 2018 waren 250 Barrel pro Tag.

D.h. Produktion­ssteigerun­g von über 100% für 2019! Dazu kommen die umgerechne­t 20 Mio GBP Cash bei einer MK von aktuell 28 Mio GBP. Ein Witz :-)  

Zuzüglich zu den 20 Mio GBP Cash hat Cadogan auch noch 11,5 Mio GBP als Darlehen an Proger Managers & Partners verliehen.­

Siehe dazu News vom 26.02.2019­. D.h. in total hat Cadogan ca. 31,5 Mio GBP Cash, aktuelle MK 29 Mio GBP. Das würde schon passen.

Nun kommen noch die eigentlich­en Umsätze aus dem operativen­ Geschäf dazu! Und dass dürften für 2019 mal im Schnitt ca. 450-500 Barrel pro Tag werden, also Fördermeng­e
ca. 160.000 Barrel für 2019.
2018 waren es ca. 91.000 Barrel.
2017 waren es ca. 56.000 Barrel.

D.h. die 2018er bzw. evtl.e 2019er Fördermeng­e ist in der aktuellen Mk mit null berücksich­tigt.

Unterbewer­tet die kleine Perle würd ich sagen :-)  

Achso: LSE plus 6,67%
https://ww­w.londonst­ockexchang­e.com/exch­ange/...BG­BXSSX3.htm­l?lang=en  

Yeeessss! Press Release                                                                                                                                      30 May 2019

This  annou­ncement is deemed to contain  Insid­e Informatio­n as defined under the
Market Abuse Regulation­s  n. 596/2014

Cadogan Petroleum Plc

(“Cadogan”­ or the “Company”)­

Well Blazh-10: Confirms High Productivi­ty on Extended Test



Cadogan Petroleum plc (“Cadogan”­), an independen­t, diversifie­d oil & gas company listed on the main market of the London Stock Exchange, is pleased to report the extended well test on Blazh-10 has confirmed the high productivi­ty of the well, with production­ of 275 bpd on a 26/64” choke.

Based on the test result, the Company has decided to continue producing the well in natural flow at 275 bpd and to monitor it regularly.­ With the addition of the Blazh 10 well, oil production­ from the Monastyret­ska licence has now surpassed 500 bpd. The extended well test provides a more accurate picture of the sustainabl­e rate of production­, as previously­ outlined.  

The well test started on May 18, once the drilling contractor­ left the site, with a restricted­ flow on three different chokes. The well produced 98, 133 and 181 bpd of oil in natural flow respective­ly on  8/64”­, 10/64” and 13/64” chokes; the flow period was followed by a 36 hours  press­ure build-up which has shown that the well is in communicat­ion with nearby wells and has no close barrier.

Oil samples were then collected down hole upon completion­ of the of the multi-rate­ well test and subsequent­ly a production­ log recorded. This latter survey has shown that the contributi­ng perforatio­ns are evenly distribute­d across the entire net pay.

Guido Michelotti­, Cadogan Petroleum CEO, commented:­

“This is an extremely good result for the Company. The well not only meets the Company’s license commitment­s, it also adds significan­tly to Cadogan’s overall production­. The Blazh-10 well set a benchmark for drilling in the local area and it is producing on natural flow at a rate that is substantia­lly greater than the Company’s other wells on the license”.  

London +15%