Hungary

A group led by Ascent Resources has spud the PEN-105 well in the Peneszlek area of northeastern Hungary, projected to 1,500 m.

Aug. 17, 2009

By OGJ editors
HOUSTON, Aug. 17 – A group led by Ascent Resources has spud the PEN-105 well in the Peneszlek area of northeastern Hungary, projected to 1,500 m.

The well is to test a structure that previously tested gas from base Miocene volcaniclastics in the PEN-12 well drilled in 1982, said 37.5% interest owner DualEx Energy International Inc., Calgary.

Interpretation of proprietary 3D seismic indicates that PEN-12 is off the structure and the top of the reservoir section is at the gas-water contact. PEN-105 will be drilled on the four-way closure’s crest 20 m structurally higher than PEN-12.

Other interests in the project through equity in PetroHungaria kft are Ascent 45.23%, Geomega 8%, Leni Gas & Oil 7.27%, and Swede Resources 2%.