The Bezzecca-1 well is located within the Company's 100% owned Cascina San Pietro permit area, east of Milan. Formerly called Pandino, the field was drilled in the 1950s by ENI and produced 5 bcf.
Bezzecca-1 well was drilled in March-May 2009 to a depth of 2,010 metres and it was tested across three gas bearing levels -- in the upper Miocene and in the lower Pliocene. Initial flow rate from the deep Miocene level from 1925m to 1945m was 2 million cubic feet per day on one inch choke at a pressure of 1760psi. The tested flow stabilized and exhibited rapid and full pressure recovery.
Bezzecca field data was evaluated in an integrated reservoir study comprising seismic re-mapping, petrophysical evaluation and reservoir simulation. Our phased development plan calls for the connection of Bezzecca-1 well to the Castello production plant by way of an 8km gathering line and the subsequent drilling of a second well (Bezzecca-2) to drain the structurally highest portion of the field. The application for the production licence was lodged with the Ministry in January 2011 as an extension of the nearby Cascina Castello Production Concession.
