BPH Energy Limited (ASX:BPH) Update on EP386 Gas Production Testing
Perth, Sep 14, 2011 AEST (ABN Newswire) - MEC Resources Limited (
ASX:MMR) is pleased to provide the following advice from its investee company Advent Energy Ltd (Advent) regarding its EP386 permit in the onshore Bonaparte Basin, WA.
Advent's major shareholders include MEC Resources Limited, BPH Energy Limited (ASX:BPH), Talbot Group Investments and Grandbridge Limited (ASX:GBA).
Advent has now mobilised the equipment to re-enter and perform re-completions and production testing on Waggon Creek-1 and Vienta-1.
Advent has contracted TDC Rig 5 for the planned workover program.
Site clearance work at Vienta-1 has now been completed and the production testing equipment is expected to arrive next week to commence testing from the existing well head.
Gas Discovery Well- Vienta-1
Vienta-1, drilled in 1998, is a faulted structure in the southern part of EP386 only 10 km from Waggon Creek-1. A number of drill stem tests over various intervals demonstrated gas flows to surface from sand bodies within the shale formations and no pressure depletion.
Furthermore significant gas kicks were previously observed at depth while drilling; however, due to the onset of the wet season, the well was suspended without testing this zone.
About BPH Energy Limited
BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.
The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.
BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.
BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).
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