aomadmin

Vali-1 ST1 fracture stimulation completed

27 July 2020

Vali-1 ST1 fracture stimulation completed

  • Six stage Vali-1 ST1 fracture stimulation program completed
  • Gas to surface from short flowback of two zones
  • Flow testing to commence in coming days
  • Independently certified gross 2C Contingent Resource of 37.7 Bcf (9.4 Bcf Net)

The ATP 2021 joint venture (Vintage Energy Ltd (ASX: VEN, “Vintage”) 50% and operator, Metgasco Ltd (ASX:MEL) (“Metgasco”) 25% and Bridgeport (Cooper Basin) Pty Ltd 25% is pleased to advise that the six stage fracture stimulation program for the Vali-1 ST1 well has been safely completed, with one stage in the deeper Tirrawarra Sandstone and five stages in the Patchawarra Formation. Timing between the first two fracture stimulation stages allowed brief flowbacks of stimulation fluid and gas to be undertaken from the deepest zones.  The gas to surface was flared, however, it is important to note that this flowback was not a flow test as it was done over a short timeframe, and hence not suitable for measurement of rates.  Timing between other fracture stimulation stages did not permit flowback of any further zones. 

The bridge plugs separating the six fractured zones in the well have been milled out with fracture stimulation fluid and gas flowing back up the well bore.  The volume of stimulation fluid injected into the zones during the fracturing process will be “back flowed”, via the surface well test separator which separates the stimulation fluid and the gas.  The flow test will measure a stabilised gas flow rate from all zones and record the down-hole reservoir pressure.  A wireline production log will be run to determine individual zonal gas contribution.  Once a stabilised rate and pressure data have been recorded over an acceptable timeframe, a release will be made to the ASX advising of the results.  This information will be assessed and incorporated into a commercialisation plan for the asset, which will include an estimate of the number of development wells required to maximise returns from the Vali Field. 

Ken Aitken, Metgasco Chief Executive Officer, commented:

We are pleased to report the safe conclusion of the stimulation program on Vali-1 ST1.  It is encouraging that gas was produced to surface during two brief flowbacks during the stimulation program.  We look forward to the safe and successful completion of the upcoming flow test.”

For more information contact: 

Philip Amery
Chair
+ 61 402 091 180
philip.amery@metgasco.com.au

Ken Aitken
CEO
+61 8 6245 0062
ken.aitken@metgasco.com.au

CONTACT US

West Perth Office
Level 2, 30 Richardson St.
West Perth, WA 6005

Tel: +61 8 6245 0060
Metgasco Ltd  ACN 088 196 383