Zeta Petroleum announces drilling commences at Musenita-1 well

Thursday, Nov 15, 2012

Zeta Petroleum plc, the ASX listed Romanian focused oil and gas exploration and production company, is pleased to announce the Musenita-1 exploration well (‘Musenita’) on the producing Suceava gas concession in Romania (50% Zeta; 50% Raffles Energy S.R.L. (Operator)) commenced drilling at midnight local time on Tuesday 13 November 2012.

Musenita is located 921 metres from the producing Climauti-1 well (refer Figure 1) where 16,000m3/day of gas is currently being recovered. Musenita is targeting shallow Sarmatian sandstone reservoirs analogous to those which are productive in the Climauti-1 well. The Company believes the Suceava concession has the potential to hold up to 80Bcf (unrisked) of shallow conventional gas.

Musenita will be drilled to a target depth (‘TD’) of 550 metres which is expected to be reached in 10 days. A further 10 days will be required to complete logging and testing operations.

Source: Zeta Petroleum

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