Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, announces that the Jacobin well is currently being sidetracked, with drilling currently in progress.
Trinity is also pleased to announce that the Lower Cruse section drilled so far demonstrates the presence of multiple oil-bearing sandstone reservoirs.
Highlights
· The Jacobin well was drilled to 9,325 ft at which depth unexpected wellbore conditions prevented further progress, necessitating a sidetrack. This is being effected immediately and the well will continue to drill ahead to the planned depth of approximately 10,000 ft, which is expected to be achieved in two weeks.
· During the drilling programme, the well penetrated over 2,000 ft into the Lower Cruse.
· Preliminary evaluation, using a combination of Measurement While Drilling (MWD) data (inclusive of MWD gamma ray) and together with analysis of well bore cuttings, point to at least three well developed, oil-bearing sand intervals in the Lower Cruse.
· Further data will be collected from the sidetrack currently being drilled, including a full logging suite.
· Further to the announcement on 26 June 2023 when Trinity announced the Jacobin well has successfully intersected the Forest and Upper Cruse secondary targets, further analysis has confirmed that the total net hydrocarbon pay across these targets is 228ft.
· The next update on Jacobin is expected to be announced once the sidetrack has been completed and the full suite of data acquisition has been completed, which will provide a definitive view on all sands encountered.
Jeremy Bridglalsingh, Chief Executive Officer of Trinity, commented:
“There is still work to do in order to achieve the total planned depth, with encouraging initial signs thus far. In order to gain a more definitive view we have to successfully complete the sidetrack of the well, and then undertake a data acquisition programme, inclusive of logging, that will provide us with the technical data we need to assess the well’s potential. We look forward to updating shareholders when we have completed logging and related interpretation.”
