MENA Hydrocarbons Inc. (MNH.V) has released the following
Activities on the Company's 100% owned Lagia oil field in Egypt
have re-commenced. A new progressive cavity pump (
) has been installed in the Lagia well #9 which has produced over
the last 12 days at an average stabilized rate of 90 barrels per
day of approximately 16 degree API oil gravity. This PCP replaces
the original sucker rod pump that was previously installed in Lagia
MENA has also completed installation of required production
facilities in the field with three oil storage tanks, a water tank,
and a 500 barrel fuel tank and has connected all producing wells
with flow lines.
Lagia wells #8 and #10, which were also drilled in 2012 and
designed for steam injection, will be placed on production
following an initial steam injection cycle to begin next month.
The two remaining production wells in the field, Lagia #6 and
#7, were drilled by a previous operator and were not completed with
thermal casing, however, their flow rates are expected to increase
from their current 22 barrels per day with steam injection into the
other nearby wells.
MNH has delivered 4,600 barrels of crude oil inventory for sale
to the General Petroleum Corporation of Egypt at an agreed price of
$77 per barrel.
Mena Hydrocarbons is up 1.5 cents to 6.5 cents at midday. More
than 2.39 million shares have been traded.
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