Zeta Petroleum still upbeat on Bobocu field in Romania

Zeta Petroleum made in September 2012 the initial probes that indicated presence of gas bearing reservoir at Bobocu and it has now elaborated a recalibrated geological model of the field by incorporating the well logs and pressure data, the company said in a statement.

The recalibrated model using 75 square-kilometres of 3D seismic, acquired by the company in 2010, indicates that Bobocu 310 well is located at the edge of a reservoir lobe and in proximity with remaining gas in the area. It also proves that the structure is more complex than initially mapped. According to the adjusted model another well in the field - Bobocu 75, is likely to have significant gas remaining.

The company will improve further the geological model of the field by reprocessing the 3D seismic utilising shear sonic logs acquired in the well and will update the market upon receiving the results and incorporating them into the existing model.

"The company believes that the Bobocu field remains prospective and [..] with 100% control of the field there are various development options available," the statement added.

Bobocu gas field, located in southeastern Romania, was acquired by Zeta Petroleum in 2007. The field was first put on production in 1977 by local Romgaz but was abandoned in 1995 as non-viable.

Zeta Petroleum has 100% interest in Bobocu gas field and Jimbolia oil field in Romania. It also has a 12.5% fully carried interest in the Padureni gas field in the country.