Buccaneer Energy Limited reported that a 10-foot section of the upper most sand at 10,300 feet measured depth was perforated Jan. 12, this sand correlates to the 9,700-foot sand in the Kenai Loop # 1 well.

In the initial stage of testing, the Kenai Loop # 4 well has successfully tested gas to the surface at a rate of 3 million cubic feet per day (MMCFD) on a 12/64" choke with a flowing tubing pressure (FTP) of 3365 psi with no water detected. Gas was flared at the location.

The well flowed uninterrupted for 24 hours and was shut-in at 11:00 p.m. Sunday, Jan. 13 (Sydney time) for 24 hours to conduct a second pressure build up test. On completion of the shut-in period, a four point test will be undertaken to establish the absolute open hole flow potential of the well. A further release will be made on completion of this testing.

Tags: Buccaneer Energy Ltd.