Red Sea Oil Corporation Announces Aborted Drillstem Test at Suakin-2 Well

The Red Sea Oil Corporation has announced that the first drillstem test on the Suakin-2 well, located in the Delta Tokar Block, was aborted due to the formation caving in and plugging up the test string. The test was conducted open hole at a depth of 9,027 feet to 9,148 feet, and approximately 5 barrels of an oil/mud mixture were recovered during the kill operation. The recovered oil is currently being analyzed in Dubai, and the operation is drilling ahead at 10,140 feet.

Key Takeaways:

• The drillstem test on the Suakin-2 well was aborted due to the formation caving in and plugging up the test string, resulting in the loss of approximately 5 barrels of an oil/mud mixture.
• The recovered oil is currently being analyzed in Dubai, and the operation is drilling ahead at 10,140 feet.
• The Suakin structure is located within the Delta Tokar Block, which is held and operated by International Petroleum Sudan Limited.
• Red Sea Oil Corporation acquired International Petroleum Sudan Limited in August 1995 and holds 100% of the outstanding shares.
• IPC owns 50 percent of the outstanding shares of Red Sea Oil Corporation and continues to provide technical and operational support from its technical center in Dubai.
• The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

Statistics:

• 5 barrels of an oil/mud mixture were recovered during the kill operation.
• The drillstem test was conducted open hole at a depth of 9,027 feet to 9,148 feet.
• The operation is drilling ahead at 10,140 feet.
• 40/60 is the ratio of oil to mud in the recovered mixture.

Sources:

• "RED SEA OIL CORP(Alberta Stock Exchange: RSO)"
• Red Sea Oil Corporation press release, 27 December 1995