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VALEURA PROVIDES QUARTERLY OPERATIONAL UPDATE

Alla lainauksia tiukankivenkaivojen™ osalta:

Yazir-2 Well
As reported on August 25, 2011 the Corporation carried out a two-stage frac on the Yazir-2 well on July 18 in two relatively tight Teslimkoy sand intervals in the Mezardere formation at depths of approximately 1,100 metres and 885 metres. Both fracs were mechanically successful. After failing to establish early gas production from the first stage frac, albeit before all the frac fluids wererecovered, testing of the shallower second stage frac was initiated. Well performance and temperature log data indicated that the second stage frac height was higher than planned and appeared to intersect a high pressure water zone above the targeted frac interval. Only trace amounts of gas were produced. Further clean-up of the first stage frac (70% of frac fluids recovered to date), which targeted a gross sand interval of 39 metres, established a gas flow rate of up to 175 Mcf/d. The well is now being tied-in to the gathering system and the first stage frac interval will be placed on production by the end of October to complete the recovery of frac fluids and to determine gas production potential.

Kayi-15 Frac
The second well re-entry and frac was carried out on the Kayi-15 well on September 30. Based on the experience at Yazir-2, it was decided to test a more directed, "limited entry" frac over five sets of perforations within a targeted gross sand interval of 129 metres in the Teslimkoy sands at a depth of approximately 1,260 metres. Prior to carrying out the frac, each set of perforations was individually swabbed to establish some gas flow and the absence of any significant formation water flow. The perforations were then simultaneously frac'd. The frac was mechanically successful and temperature logging indicated that the aggregate frac height was contained within the targeted gross sand interval. Clean-up operations are continuing at the well to recover all of the frac fluids. The well is flowing naturally and producing gas and frac fluids.

BTD-2 Well
The third well re-entry and frac was carried out on the BTD-2 well on October 3. A relatively small single-stage frac was placed into a Teslimkoy gross sand interval of 29 metres in the Mezardere formation at a depth of approximately 980 metres. The frac was mechanically successful and the well was swabbed to recover the frac fluids. Gas production was quickly established and a subsequent six-hour flow test yielded a stabilized gas flow rate of approximately 2,300 Mcf/d on a 32/64ths inch choke at a flowing wellhead pressure of 700 pounds per square inch ("psig"). The well iscurrently shut-in for a pressure build-up test.

BTD-2 vaikuttaa ihan hyvältä.

Valeura vaatii hieman kärsivällisyyttä, kun ollaan uudisraivaushommissa Turkissa.