- Ansila Energy NL (ANA) has dropped 34 per cent after updating the market on the Siciny-2 well project
- In spite of the price plummet, the company says the well is on schedule and within budget
- The flow-back confirmed hydrocarbon gas is present in the reservoir and free gas (methane) occurs on the surface
- Ansila Energy is down 34.38 per cent on the market this afternoon, trading at 2.1¢ apiece
Ansila Energy NL (ANA) has dropped 34 per cent after updating the market on the Siciny-2 well project.
In spite of the price plummet, the company says the well is on schedule and within budget.
In December, the company started the process of cleaning up the Siciny-2 well, following a hydraulic fracture stimulation. It commenced with the flow-back of frac fluid through well casing.
During this stage of the well clean-up, operation gas detectors at the wellhead showed methane gas and methane was also vented from the frac fluid flow-back storage tanks, confirming the presence of free gas at the surface.
The flow-back of frac fluid was then continued through the production tubing, after this initial phase coiled tubing was used to enhance recoveries.
Ansila said the movement from the coiled tubing created a swabbing effect, with pockets of gas being displaced to the surface. Samples of this gas have been collected for analysis.
Following the flow-back of frac fluid, the well started the production of formation water, this prevented the breakthrough of free gas flow. As a result, modification of the test program will replace the planned isochronal test.
The focus of this test is to collect data on the permeability of the system, pore pressure and reservoir formation water. This test is expected to be finished by February.
Ansila Energy is down 34.38 per cent on the market this afternoon, trading at 2.1¢ apiece at 2:57 pm AEDT.