Eland Oil & Gas PLC is pleased to provide the following operations and corporate update.
•Opuama-5 wellhead and christmas tree maintenance activities have been successfully completed. The well has been reperforated, with the perforation interval increased to 24ft. Swabbing operations have been completed and oil flowed into swab barge. Opuama-5 is now being hooked-up to the Opuama flow station facilities and the Company will update on initial flow rates in due course. All indications are positive for the well to achieve gross production of between 400-600 bopd.
•Opuama field recorded average production uptime of 81% for the first half of 2015. Production from OML 40 was halted for 14% of the first half of 2015 due to planned maintenance of the Trans Escravos Pipeline network by SPDC and a further 5% of the period due to industrial action at NNPC and NPDC.
•Current Opuama Field average gross production over 2,750 bopd (1,238 bopd net to Elcrest Exploration and Production Nigeria Ltd Eland's joint venture company) based on production days.