Zeta Petroleum announce a successful gas production test at Suceava

Zeta Petroleum plc, the ASX listed Romanian focused oil and gas exploration and production company, is pleased to announce a successful production test has been carried out on the Dornesti Sud-1 well, a previous discovery on its 50% owned Suceava gas concession in Romania, with the well testing at a rate of 26,000 cubic metres per day (‘m3/day’). The well has now been suspended ready for production. Raffles Energy S.R.L. (‘Raffles’) is the operator and holds the remaining 50% interest in the Suceava concession.

Overview

• Dornesti Sud-1 well tested at 26,000m3/day and has now been suspended ready for production
• Successful production test at the Dornesti Sud-1 well is part of an on-going feasibility study to bring two gas discovery wells on the Suceava concession into production
• Potential for rapid payback from the Dornesti Sud-1 well with low cost development options being considered
• A second suspended discovery well, the SE-1, that flowed gas at commercial rates in testing, will also be examined
• Existing production at Climauti gas field remains stable at 14,600m3/day generating net revenues to Zeta of US$25,000 per month

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