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MENAFN - ProactiveInvestors - Australia - 08/11/2012

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(MENAFN - ProactiveInvestors - Australia) Zeta Petroleum (ASX: ZTA) remains confident about the prospectivity of the Bobocu gas field in Romania and is considering a sidetrack of the well it drilled in September 2012.

While the Bobocu 310 well did not produce commercial gas despite intersecting gas-bearing reservoir, downhole well logs and pressure data from the well have been incorporated into the field's existing geological model.

This updated model has indicated the Bobocu structure is more complex than originally mapped and the well had intersected the structure slightly lower than prognosis though it did encounter all the
stratigraphic layers expected.

The data also indicated the Bobocu 310 well is in pressure communication with Bobocu 75, an old producing well located in an area that is likely to have significant gas remaining, and that it is located at the edge of a reservoir lobe and down-dip from the remaining gas in the area.

Further improvements to the accuracy of the Bobocu geological model are also expected once reprocessing of the 3D seismic acquired by Zeta in 2010 is completed.

This will be achieved by using seismic inversion to improve its resolution by utilising the shear sonic log acquired in the Bobocu 310 well.

Zeta expects the updated geological model to be available by year end, giving it a better understanding of the fluid distribution in the field and allowing it to better assess the viability of sidetracking Bobocu 310 well to target the remaining gas.

It also remains committed to bringing the field back into production by drilling new development wells and, where possible, undertaking workovers of existing wells.

 






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