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BNK Details Reservoir Analysis at Polish Gapowo Well
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BNK Petroleum Inc. has reported an update on its Gapowo B-1H well onshore Poland.
The previously announced reservoir model analysis for the Gapowo B-1H shale gas well in Poland has been completed. The model was prepared for the Company by a third party consulting firm that is a world leader in this field.
The model simulated flow rates and recoveries that would be achieved if another well is drilled near the Gapowo B-1H well, in various sub intervals of the Ordovician shale, and is successfully fracture stimulated along a full-length lateral with the modeled fracture design. It also assumes that the learnings from the Gapowo B-1H well and the modeling are incorporated in the new well design. As announced on June 5 and July 30, 2014, the fracture stimulation of the Gapowo B-1H well encountered challenges resulting in placement of proppant that was sub-optimal and did not achieve designed volumes. Flow back rates, data from pressure gauges and data analysis indicate that only 8 of the 20 stages were contributing to the flow.
The forecasted flow rates and estimated recoveries predicted by the numerical model for a full stimulated length lateral, in addition to the overpressure that was confirmed by the data collected from the Gapowo B-1H well, are encouraging and the Company believes further wells are warranted.
The detailed study report prepared by the third party consulting firm will be included in the information made available to potential joint venture partners. The Company has begun the process of providing potential partners with access to project data. The Company believes that the encouraging modeling results, strong natural gas prices in Europe, and the Company’s large Polish acreage position will be attractive to joint venture partners with the capacity to advance this project.