Friday, September 18, 2015

Hungary: Győr Geothermal Project Reports a 4th Well Drilled

Fourth successful well drilling of Győr Geothermal Project (News Release)

News Release: In accordance with its disclosure obligations, on behalf of its subsidiary, Arrabona Geothermal Ltd., PannErgy Plc. hereby informs the actors of the capital market that on 29 August 2015 as part of the development belonging to the Geothermal Project of Győr in  northwest Hungary, the fourth BON-PE-02 geothermal drilling reached the targeted fault zone in the predetermined layer formation and total mud loss occurred.

Implementation of the Geothermal Project of Győr arrived at the final phase with the successful drilling works of BON-PE-02 well, started in Bőny this July. Implemented with the use of directional deflected drilling, the deepening of reinjection well BON-PE-02 took 48 days to complete flawlessly, without technical and geological difficulties, in line with the preliminary schedule. Total mud loss occurred at a depth of 2430–50 meters. Thanks to the pre-drilling 3D seismic measurements and information obtained during the drilling of the previous three wells, the geological and hydrogeological information were properly developed and the drilling penetrated the Triassic dolomite aquifers in the planned depth. Information generated from the recessed wells of Győr Geothermal Project also contributed to gain a more accurate cognition of the geological structure of the area.

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