Wirelinelogginghasbeencompletedandthewelliscurrentlybeingpluggedandabandoned。

However,thefirmwaskeentoemphasisethatthewellhasencounteredadditional,well-developed,sandsnearthetotaldepthpointwhichformatargetreservoirinaseparatestructurewhichiscurrentlybeingevaluatedusingseismicdataalreadyacquiredin2011。

Thisinformationwillbeusedbythepartnergrouptohelpde-riskthedrillingofthenextwellintheappraisaloftheVoitineltrend,whichisplannedforthesecondhalfof2012。

Thetotalexpectedcostofthewellisforecasttobe€2。

5mcomparedtoanagreedapprovalforexpenditureof€3。

5m,withAureliansshareofthetotalcostexpectedtobearound€0。

84m。

ChiefExecutiveRowenBainbridgesaid:WhilsttheprimaryobjectivesectioninHorodnic-1wasencountered,itisdisappointingthatitdoesnotappeartocontaincommercialquantitiesofgas。

Thatsaid,thislowcostcommitmentwellhassignificantlyincreasedourunderstandingoftheVoitineltrendandalsoprovidedinterestingreservoirindicatorsofaseparatestructure,thatwearecurrentlyassessingusingseismicacquiredearlierintheyear。

Thesharepricefell9。

62%to23。

5pby13:14。

NR

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