Thursday, December 5, 2019
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AIM-listed Eland Oil & Gas, a production and development company operating in West Africa with an initial focus on Nigeria, has provided the following operational update for its operations.

Average net production for January to May 2019 increase by 32% to 9,880 barrels of oil per day (bpd) compared to 7,505 bpd for the same period in 2018. System uptime (including planned and unplanned outages) of 88% recorded for the period, up from an average of 84% for the same period in 2018.

Field development activities in Gbetiokun, which include the utilisation of an early production facility (EPF) for production growth have progressed successfully. The EPF is expected to be mobilised to Gbetiokun field this week. The Company expects the field to come onstream in July, with initial gross production of approximately 12,000 bpd (net: 5,400) from Gbetiokun-1 and Gbetiokun-3 wells.

Following successful re-entry operations in 2018 the Gbetiokun-1 well was completed as a dual completion to produce from the E2000 and E6000 reservoirs. Clean-up testing in Q1 2019 on the E2000 reservoir achieved choke-limited rates in line with expectations. For the deeper E6000 interval, testing during the 2018 completion operations had highlighted the potential for limited cement behind casing and clean up testing appears to confirm this. As a consequence, despite good well rates, the E6000 produced with limited water from a shallower water wet sand when opened to flow. Going forward this completion will be managed to maximise E6000 production whilst minimising water production.

Gbetiokun-3 was drilled as an appraisal well in Q4 2018 with the dual completion on D9000 and E4000 reservoirs being installed in Q1 2019. During pressure testing, a small leak was identified on the shallower D9000 completion string. Following further diagnostic logging, the leak was located and a remedial tubing patch is scheduled to be installed in the near future which will allow the string to be opened up to flow. The deeper E4000 interval was cleaned up in Q1 2019 and achieved choke-limited rates in line with pre-drill expectation.

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