Cove Reports 2nd Successful Flow Test of Well in Offshore Mozambique

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The second test of the Barquentine-1 well flowed gas at an equipment constrained rate of approximately 100 million cubic feet per day (MMcf/d), with minimal pressure drawdown, targeting a deeper Oligocene sand formation than previously tested Barquentine-2 in March. In an announcement on the company’s website, Cove Energy provided the results of the well at the northern end of the Prosperidade gas complex in the Rovuma Basin Area 1 block, Offshore Mozambique (“Area 1 Rovuma Offshore”).

Highlights of the results include:

• Equipment constrained test flowed gas at rate of approximately 100 MMcf/d.

• Test data supports potential unconstrained flow rates up to 200 MMcf/d.

• Results confirm requirements for fewer development wells than originally planned.

• Flow rates demonstrate a high permeability reservoir

Cove Energy CEO John Craven said, “I am very pleased to announce the continued value  being added to the Prosperidade gas complex with the second successful gas flow test from the Barquentine-1 well in Area 1 Rovuma Offshore, re-iterating the high quality gas reservoirs from this discovery. We look forward to continuing success from the Prosperidade gas complex.”

To read the full release, click here:

http://www.cove-energy.com/communicraft-cms-system/uploads/12-05-04_2nd_Successful_Flow_Test.pdf