Oracle Energy Corp.
Oracle Energy: Update on Nadlac Field, Romania
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
February 13, 2006– Oracle Energy Corp. (OCL:TSX Venture; 02E:Frankfurt) is
pleased to report the following update on operations at the Nadlac Field,
Romania:
No. 100 Well
Petrom Service, S.A., the workover services company, working on the No. 100
well last week successfully broke free the remaining tubing that had been
dropped in the bottom of the wellbore. The old tubing was pulled up from
approximately 2500 meters (8000 feet) to 538 meters (1600 feet) where a
defect in the 5 ½” casing was discovered. The 5 ½” casing from 538 meters
to the surface was pulled out and has been replaced with new 5 ½” casing.
The new casing is expected to be cemented into place in the next few days
and then the old tubing will be pulled up the remaining 538 meters and out
of wellbore. Schlumberger Well Services has been scheduled to then run a
RST log, formerly called a TDT log or Thermal Decay Time log, which
analyzes and identifies oil and gas zones behind pipe. Schlumberger is
scheduled to have their truck at the well site within two to three weeks.
The new logs will be run to fully establish the extent of the oil zone and
further evaluate other potential in the field. If bond log analysis shows
good cementation, then the 100 well will be perforated and completion
attempted in the oil zone.
No. 3 Well
The gas transportation permits on the No. 3 Nadlac well have been approved
after delays because of the Christmas holidays. The pipeline company is
scheduled to hook-up the well and begin taking gas by the end of February,
2006.
The Nadlac field is in Western Romania near the Hungarian border. Pursuant
to the property purchase agreement dated July 5, 2004, as amended Aug. 17,
2005, between Oracle Energy Corp. and Carpathian Energy Companie
Petroliera, Oracle Energy holds a 20% participating interest in six oil and
gas concessions located in Romania known as the Bordei Verde Vest field and
the Nadlac, Catrunesti, Cozieni, E. Ciumeghiu and N. Ciumeghiu concessions.
ON BEHALF OF THE BOARD
Nasim Tyab
President
Value Relations GmbH
Mail: oracle@ir-services.de
Tel.: 069/959246-13
(c)DGAP 13.02.2006
—————————————————————————
language: English
emitter: Oracle Energy Corp.
5525 West Boulevard, Suite 440
V6M 3W6 Vancouver, BC Kanada
phone: +1 604 980-6620
fax: +1 604 602-9974
email: info@oracleenergy.com
WWW: www.oracleenergy.com
ISIN: CA68400T1093
WKN: A0F52J
indexes:
stockmarkets: Freiverkehr in Berlin-Bremen, Frankfurt, Stuttgart, München;
Foreign Exchange(s) Canadian Venture Exchange
End of News DGAP News-Service
—————————————————————————
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden