Titan Energy commences flow testing at Allen Dome

THE ROADHOUSE BOWSER: Titan Energy (ASX: TTE) has commenced commercial production on the initial test well of the company’s 2015 multi-well developmental drilling program on Allen Dome.

The company announced the JT Reese #14 to be flowing 100 per cent high gravity (44°) oil at 80psi on a 16/64 choke.

In the first 72-hours of testing the well produced flush production of 348 barrels (116 BOPD) after it was perforated from 3932 to 3942 feet, a 10 foot section of the approximately 70 feet of net pay as defined by logging in this particular zone.

Titan explained this to be the first zone of an estimated eight prospective pay zones which both open hole and cased hole logging has indicated to be hydrocarbon bearing.

Titan paid 25 per cent of the drilling and completion costs and owns a 50 per cent Working Interest in the well.

“The JT Reese #14 is the most significant well drilled in Titan’s history,” Titan Energy CEO Brad Simmons said in the company’s announcement to the Australian Securities Exchange.

“It is not the production rate alone that makes this the case but the process.

“We overcame technical drilling and downhole conditions that have caused major issues for other operators on Allen Dome.

“It paid off. I would match the ground team that made this happen against anyone in the business.”

Titan indicated the second test well of the planned five-well program, the JT Reese #15, is currently drilling ahead at 2,450 feet.

The company said its appears to have completed drilling through the overhang and is now targeting potential oil pay zones identified in offset wells from 2,600 feet to 4,300 feet.

All operations are said to be running normal.

Email: info@titanenergy.com.au

Website: www.titanenergy.com.au