NG Energy Sees First Well At SINU-9 Test At 15 MMSCF/D From Three Zones

The results are in for NG Energy’s (TSXV: GASX) flow tests of the first well drilled at the firms flagship Sinu-9 cell block in Colombia. The results follow the news in July that “significant gas” had been hit by the company, which was released following images of the well’s flare being spread on social media.

Flow tests conducted at the first well, referred to as Magico-1x well, consisted of two drillstem tests as well as a comingled test across three prospective zones in the well.

The first test, conducted on the zone encountered at 3,694 feet across 40 feet of net pay, produced 4.0982 MMcf of gas, with no water encountered during testing. The second test, conducted at zones found at 3,572 feet and 3,632 feet deep with a combined net pay of 36 feet, generated 5.0997 MMcf of gas with no water.

Following these two tests, the company completed the well with 3.5 inch tubing, and then conducted a comingled test across the three zones in the Cienaga de Oro formation, for a combined net pay of 76 feet. This comingled test produced 4.0247 MMcf of gas and no water as well, with the total amount of gas produced from the three wells amounting to 13.2326 MMcf.

More importantly, the well tested over 15 MMSCD of dry gas, with no water present in the well on a comingled basis. After a test duration of 1 hour, the well demonstrated a flow rate of 15.143 mmscf/d at 640 psi across the 76 feet of net pay. Absolute open flow is estimated to be above 50 mmscf/d.

Additional prospective zones are also expected to be tested in the future.

“We are very excited about this well in an area with great exploration potential. This is very positive to the Country and contributes to the green energy politics that the new Colombian government wants to enforce,” commented CEO Serafino Iacono.

The company also commented that it intends to next spud the Brujo exploration well, following the analysis of Magico-1x being completed. The well reportedly has already received approval for drilling by the ANH.

NG Energy last traded at $1.13 on the TSX Venture.

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