Verenex has Ghadames basin oil discovery in Libya

Verenex Energy Inc., Calgary, and equal partner PT Medco Energi Internasional of Indonesia have made an oil discovery in Libya's Ghadames basin.

Eric Watkins
Senior Correspondent

LOS ANGELES, July 12 -- Verenex Energy Inc., Calgary, and equal partner PT Medco Energi Internasional of Indonesia have made an oil discovery in Libya's Ghadames basin.

The partners said their A1-47/02 well in the exploration and production-sharing agreement area, which Verenex operates, flowed at a maximum combined rate of 12,500 b/d of oil through a 128/64-in. choke and 6,586 b/d of oil through a 32/64-in. choke. The oil flowed from 174 ft of perforations in three test intervals in the Lower Acacus formation.

The flow tests confirmed "the excellent quality and deliverability of the sandstone reservoirs discovered in the Lower Acacus in this well and provided information to calibrate wireline log and other formation evaluation results," the companies said.

Contact Eric Watkins at hippalus@yahoo.com.

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