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Jersey-based oil and gas company Predator Oil & Gas Holdings said that workover well operations to survey down its AT-4 and AT-13 wells in the Inniss-Trinity field in Trinidad had been completed successfully.
Based on the AT-13 survey results the Herrera #2 Sand was confirmed as being accessible for CO2 enhanced oil recovery (EOR) operations.
Based on independent reservoir engineering studies and CO2 EOR resources estimates, the Herrera #2 Sand had the potential to contribute over 50% of the total recoverable CO2 EOR resources within the AT-4 compartment in the Inniss-Trinity field.
AT-5X and AT-13 were selected as the preferred initial wells for CO2 EOR injection and production operations.
'This is really excellent news and allows us to focus on the larger resources potential of the Herrera #2 Sand which we originally considered might have been a more difficult operational challenge,' said chief executive Paul Griffiths.
At 9:52am: (LON:PRD) Predator Oil Gas Holdings Plc Ord Npv share price was +0.25p at 6.85p