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Neon Energy restarts testing at the Paloma Deep-2 vertical well  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 23/12/2012

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(MENAFN - ProactiveInvestors - Australia) Neon Energy (ASX:NEN) has re-started the testing of the Lower Stevens "B" sand in the Paloma Deep-2 vertical appraisal well at its Paloma Deep oil and gas project in the San Joaquin Basin in the US.

The recommencement followed the installation of production tubing, and the addition of further perforations.

The planned installation of a pumping unit was postponed in order to assess the potential for the reservoir to flow hydrocarbons unassisted.

After a few days of intermittent testing, including swabbing, the well has recovered over 40 barrels of oil.

Neon is at present installing a downhole jet pump and the start-up is expected shortly for an extended flow period with the aim of achieving a stabilised rate.

The next stages of drilling will determine whether commercial flow of hydrocarbons is sustainable.

Neon holds an 85% inters in the three Paloma wells, with partner Soilimar Energy (ASX:SGY) holding the remaining 15%.

 






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