Candax Reports on Ezzaouia Remedial Work
November 23 2012 - 12:51PM
Marketwired
Candax Energy (TSX:CAX) is pleased to report that the remedial
campaign on Ezzaouia has been successfully completed by the
operator Maretap. Maretap is a 50/50 joint venture managed by ETAP
(the Tunisian national oil company) and Ecumed (100% subsidiary of
Candax). The five month campaign included remedial actions
conducted on several Ezzaouia wells in order to eliminate scale
deposit in the production tubing and at the jet pump level. Five
producer wells are now back in production and we expect Ezzaouia-1
to resume production in the coming weeks.
Production Manager, Jamil Hamza, stated that: "We are very
pleased by the results of the remedial campaign and increased
production and wish to congratulate the Maretap teams for this
important step forward."
The rig is in the process of being de-mobilized on Ezzzaoia-1
well and civil work will shortly commence in preparation for the
implementation of the sucker rod pump. It should be noted we are
optimistic that the change in activation methodology on Ezzaouia-1
from jet pump to sucker rod should better optimize the production
from this well and may prove as a template for changes in the
activation methodology used on other Ezzaouia wells in the future.
We expect production from Ezzaouia-1 to re-commence in the second
half of December.
An additional work-over was also successfully performed on the
Ezzaouia-2 well in order to cure a recent leak caused by some sour
Zeebag formation fluid on the upper part of the 7" liner.
Production levels on Ezzaouia-2 have reached as high as 186 barrels
per day and the oil water cut continues to improve.
As a result of the work over and the jet-blasting campaign, the
total Ezzaouia field daily production is now approximately 750
barrels per day, a significant improvement from production levels
before the projects were undertaken.
On top of these curative actions several studies for new
activation methods and scale inhibition are being conducted and
should quickly lead to a better control of the scale creation and
deposit issues and will improve longer term decline rates.
Ongoing G&G studies conducted jointly by the partners and
the operator are aiming to identify additional production through
the implementation of side tracks and other methods to access
remaining oil behind the pipe of existing wells. These various
corrective actions and additional studies should lead to a gradual
increase of production in the forthcoming months.
About Candax
Candax is an international energy company with offices in
Toronto Tunis. The Candax group is engaged in exploration and the
production of oil and gas in Tunisia and holds an interest in an
exploration permit in Madagascar.
Contacts: Candax John Younger President 416 368 9137 ext.
136jyounger@candax.com