The oil and gas exploration and production company is planning a number of further development wells in the Peneszlek Area of the Nyirseg field in Hungary to maximise the potential of the gas field and increase production.
In particular, site preparation for the PEN-105 is underway with drilling scheduled to start on July 31 2009. Additionally, the drilling of a further three development wells, PEN-101, PEN-106 and PEN-104AA, are planned in the near future and the evaluation of a number of further PEN locations is underway.
A 3-D seismic survey has been acquired in the Panhandle area of the Nyirseg permit and plans for an exploration well are advanced. The location for the Görbehaza-1 well (Gh-1) has been agreed and drilling is expected to commence in September 2009.
Additionally, three follow-up locations are under evaluation. This project has been farmed out to Hungarian Horizon and JKX. Hungarian Horizon, the second biggest gas producer in the country, has taken over as operator.
Following the completion of geophysical studies conducted over an 18 months period, plans for the redevelopment of the Bajcsa gas field in the country are being considered.
Regarding the Petisovci redevelopment project in Slovenia, permitting for a 3-D seismic acquisition in the area of the previously producing oil and gas field is ongoing with the acquisition of data over 90 square kilometres starting in August.
Additionally, Ascent Hungary Ltd plans to carry out a follow-up acquisition in the adjoining Lovaszi area in Hungary. The board believes that there could be substantial potential with estimates for tight gas reserves of up to 300 billion cubic feet and shallow oil targets in the range of 5 to 10 million barrels.
The Filovci Development in Slovenia is an exploration project in eastern Slovenia where 3-D acquisition is planned for the fourth quarter of 2009. A 200 square kilometres survey is currently under permitting, which will target an area where previous wells have produced both oil and gas.
At the Latina Valley Frosinone exploration permit in Italy, the Anagni appraisal well is planned for September 2009, designed to appraise the shallow part of the Anagni structure in the Latina Valley, a proven oil producing region to the south east of Rome. Ascent is currently in the process of obtaining permission to begin drilling.
The company is in the process of acquiring permission to conduct a shallow high resolution seismic survey to assess redevelopment potential for the Ripi oil field in Italy.
Ascent is currently seeking partners for appraisal of the Hemrigen gas field In Switzerland, where Elf Aquitaine in 1982 discovered and tested gas in a secondary target. Following extensive analysis of the geological and seismic data and further geochemical analysis, Ascent has designed an appraisal well for the original gas discovery that will also have the capability to drill down to the primary target of the Hermrigen-1 well.
Further, drilling plans are well advanced on the M-11 gas block in the Netherlands which contains an extension of an existing gas field and oil discovery, the company added.
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