MOORE Energy's partly owned subsidiary Millennium Geo-Venture SAS (MGV) is the co-owner with Geopetrol SA of the Soufflenheim exploration license in Alsace.
As operator of the license MGV confirms that the data gathering well SFH-1 encountered oil as per prognosis and with similar reservoir characteristics as the offset wells.
Following the successful drilling and completion of the well with four horizontal radial drains at a depth of 499 m test production commenced on 29 September 2014 and was shut in on 17 November due to high water cut. A re-entry and re-perforation study is under way and will be proposed to the license holders for approval.
SFH-1 is the first oil well drilled in the area for 15 years. The objective of the well is to allow the license holders to better evaluate the remaining potential of the known hydrocarbon bearing Glaswinkel and Beinheim formations in the Soufflenheim Field which previously produced 460,000 barrels of oil from 1954-1968.
MGV is the operator and holds 55% working interest in the Soufflenheim license in partnership with Geopetrol. MOORE Energy is a Norwegian oil and gas exploration and production company with focus on conventional resources in France.