Mediterranean confirms oil discovery in Italy

Mediterranean Oil & Gas Plc announces that the appraisal well, Ombrina Mare 2, has been completed successfully and the Ombrina Mare Oil and Gas Field has been confirmed as a discovery.

The production test performed on the Ombrina Mare 2 horizontal side track well (“OM2dir”) has been completed.

After acidification, the well was spontaneously (ie without any gas lift) producing oil at a rate of approximately 900 Bbls/d of oil with protracted peaks of approximately 1000 Bbls/d and without any formation water (water saturation 1.0 to 3.5%).

The well pressure measurements, during and after oil production, bear very close correlation with the results of the discovery well, Ombrina Mare 1 (“OM1”). The production pressure was stable and, after a period of production, the pressure build up was very rapid.

Initial oil samples tested at 17 API° (OM1: 18 API°).

Source : http://www.medoilgas.com/