Special Report: The sweet smell of success may not be too far off for Ansila Energy as it prepares to frac its high-impact gas well in the Gora licence, Poland.

It could be a very Merry Christmas indeed for Ansila Energy (ASX:ANA) if the fracture stimulation and testing of its Siciny-2 gas well in Poland goes the way that the company is hoping.

All the signs have been positive to date.

Siciny-2 was originally drilled in 2012 and intersected 1,460m of tight Carboniferous sandstone with good and consistent gas shows throughout.

Additionally, an analysis of an injection test gave assurance that there was good commercial potential through future horizontal fracture stimulated development wells.

Re-entry and clean-up of the well was carried out smoothly and more importantly, testing has confirmed that the well casing and cement are in excellent condition for reservoir stimulation to be carried out without the need for a through-tubing operation, which would have delayed operations.

Technical director Chris Lewis told Stockhead that with everything proceeding as planned, he would be at the Siciny-2 well site on Monday when fracture stimulation (frac) operations begin.

“From there, we will flow back the frac fluid and once we have got the well cleaned up, we will run the production tubing, the packer and get ready for well testing.

“We should be able to get the well up for well testing and flowing gas to surface within two weeks.”

Work at the Siciny-2 well Pic: Ansila Energy

What this means is that should everything continue to go as planned, Ansila could be looking at initial gas flows and a very good reason to really let its hair down before Christmas.

From that point, Lewis estimates that well testing will take between two and two and a half weeks which will then be followed by some initial multi-rate testing that should take four to five days.

Multi-rate testing involves conducting a series of tests at different flow rates.

“Then we should have some idea of the flow characteristics of the reservoir, we will be able to put something out to the market about how that initial multi-rate test has gone,” Lewis explained.

“After that, we will do a longer term flow and longer term build up to really investigate the reservoir and understand it in depth, that should take us into February 2020.

“If we get the results that we want, by sometime in February, we should be going to the market with quite a lot of confidence that the field development plan can be carried out.”

That could be grounds for further celebration as the success of Siciny-2 opens up the development of the Gora licence, which could hold 1.6 trillion cubic feet of gas (equivalent to about 270 million barrels of oil).

Bringing the gas to market is also a simple matter.

“We are 1km from the pipeline and just 5km from the third-party gas processing and treatment plant,” Lewis said.

“Initially we can use their plant, but they have room for us to build additional processing capability that we can use to take us to the peak daily production under the conceptual field development plan.”

This story was developed in collaboration with Ansila Energy, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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