By OGJ editors
HOUSTON, Oct. 3 -- Vegas Oil & Gas SA, private Greek operator, reported a sustained flow rate of 3,388 b/d of 41° gravity oil and 4.25 MMcfd of gas from a well on the North West Gemsa concession in Egypt's Gulf of Suez basin.
It is suspending the Al Amir SE-1 sidetrack as a discovery and potential producer from the Kareem formation sandstones.
The concession covers more than 400 sq km about 300 km southeast of Cairo. The concession agreement includes the right of conversion to a production license of 20 years, plus extensions, in case of commercial discoveries.
Interest in the concession are Vegas Oil & Gas operator with 50%, Circle Oil PLC 40%, and Premier Oil PLC 10%.
