(Source: MARKETWIRE)
John C.S. Lau, President & Chief Executive Officer of Husky Energy Inc. (TSX: HSE), is pleased to announce that Husky Oil China Ltd., a wholly owned subsidiary of Husky Energy Inc., has completed drilling and testing of the third appraisal well at the Liwan 3-1 field on Block 29/26, in the South China Sea.
The West Hercules deepwater drilling rig drilled the Liwan 3-1-4 well to a total vertical depth of 3,366 metres below sea level. The well was drilled and tested in a water depth of 1,450 metres on the Liwan gas discovery which was made in 2006 in the South China Sea.
"This third appraisal well tested natural gas at an equipment restricted rate of 52 million cubic feet (mmcf) per day with indications that the well's future deliverability could exceed 150 mmcf per day," said Mr. Lau. "The results from this well are very consistent with those of the other appraisal wells, demonstrating both the quality and consistency of the Liwan 3-1 reservoir. The Liwan three-well appraisal program has delineated the field, increased our understanding of the recoverable resource, and provided us with the necessary reservoir characterization to prepare the plan of development for the Liwan 3-1 field."
Husky is proceeding with the front end engineering design (FEED) and data from the third appraisal well is being integrated into the program. Currently Husky expects the plan of development will be submitted to partner and regulatory authorities in late 2009 or early 2010. First gas production is targeted to be in the 2013 timeframe.
Liwan 3-1 Field Well Results ----------------------------- ---------------------------------------------------------------------------- Well Rig Release Date Restricted FlowTest Projected Flow Rate Rate Capability (mmcf per day) (mmcf per day) ---------------------------------------------------------------------------- Liwan 3-1-1 Sep. 15, 2006 Discovery Well Not Tested ---------------------------------------------------------------------------- Liwan 3-1-2 Feb. 25, 2009 53 greater than 150 ---------------------------------------------------------------------------- Liwan 3-1-3 May 9, 2009 55 greater than 150 ---------------------------------------------------------------------------- Liwan 3-1-4 Aug.
