Albania: Petromanas to plug northern wildcat

Petromanas Energy Inc., Calgary, will plug its Juban-1 wildcat in northern Albania at a total depth of 1,716 m after a logging program indicated negligible hydrocarbons.

Petromanas holds a 100% working interest in Blocks A-B, and the well cost $6.5 million or $2 million less than budgeted.

Meanwhile, the Shpirag-2 exploratory well testing Blocks 2-3 reached the top of the target carbonate reservoir zone at 4,750 m, and Petromanas set casing to the top of the objective to put the less stable flysch shale that overlies the target carbonate behind pipe.

The well, estimated to cost $44 million to drill to target depth of 6,100 m, is drilling ahead in the carbonate reservoir.

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