Jan 24, 2011 06:01 ETTranseuro Energy Corp.: Ukraine Drilling Ahead With Strong Gas Shows
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 24, 2011) - Transeuro Energy Corp. ("Transeuro" or the "Company") (TSX VENTURE:TSU)(OSLO:TSU) issues a weekly update on its Ukraine operations.
After entering the C12 reservoirs at 3107 metres, strong gas shows have required the mud weight to be increased from 1.15 s.g. up to 1.26 s.g. (specific gravity). The drill bit was replaced and as at 6 am local time today, the well was drilling ahead with 8.1/2" hole in the C13 interval at a depth of 3226 metres, with continuous background gas and connection gas up to 18% by volume in the drilling mud and a 'Rate of Penetration' (ROP) around 2 metres per hour.
Over the next week the Company expects to encounter the top C14 interval around 3380 metres and drill to the 'Total Depth' (TD) of around 3520 metres. Overall the company anticipates perforating and testing up to 5 separate intervals: Turonian, C12, C13, C14 and C15.
Transeuro is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company's properties are located in Canada, Armenia, and Ukraine. In addition, the Company holds a back-in option to Eaglewood Energy Inc.'s exploration licenses in Papua New Guinea.
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