First gas find for Sterling offshore Romania

Offshore staff

CALGARY, Canada – Sterling Resources has discovered gas in the Black Sea offshore Romania.

The Eugenia-1 well on the Pelican block reached a total MD of 2,276 m (7,467 ft). Early log analysis indicates a total of 22 m (72 ft) of gas-bearing Late Cretaceous sandstones, mainly within two intervals, with average porosity ranging from 10-20% and average gas saturations of 55-62%.

The sandstone units are within the 1,938-2,038 m (6,358-6,686 ft) interval. Formation pressure data and recovered gas samples from open-hole logging tools have confirmed moveable gas.

A further 20-m (65.6-ft) zone of interest is apparent within an Eocene limestone section from 1,900-1,938 m (6,233-6,358 ft). The interval was drilled with gas shows - attempts to gather pressure data were unsuccessful, but this is not uncommon in carbonates where matrix porosity is limited, Sterling says.

Log analysis will follow to determine whether the Eocene limestone could be gas bearing and producible, as was the case in the adjacent Olimpiyskaya well.

A third, shallower objective of the well was to test the stratigraphy of a large Oligocene slump or fan structure. This was drilled at a downdip location to enable drilling of the deeper Eocene and Late Cretaceous main targets from the same well location, and intersected 100 m (328 ft) of good quality sandstones with some minor gas shows.

Midia Resources, a wholly owned subsidiary of Sterling, is the operator of the Midia and Pelican blocks in partnership with Petro Ventures Europe and Gas Plus International.

12/19/2012

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