Magellan Petroleum Corporation has concluded that the CO2-enhanced oil recovery ('CO2-EOR') pilot project at Poplar has been a technical success, and demonstrates that the CO2-EOR technique is a technically viable tertiary recovery method in the Charles formation at Poplar Dome. The Company reached this conclusion on the basis of the oil production response observed in, and other injection and pressure data gathered from, the Pilot.

CO2 injection into the Pilot's single injector well began in August 2014. In October, the Pilot's four producer wells were opened for production. Since then, oil production has increased in three of the four producer wells in response to CO2 injection, and the Company expects the fourth well will demonstrate an oil production response soon. The current run-rate of production from the three producing wells together is between 50 and 75 bopd and is expected to increase gradually through the summer.

Tags: Magellan Petroleum