Stream Oil to begin drilling operations in Delvina

TIRANA, Feb. 5 – Canadian-based Stream Oil & Gas says it will start drilling operation in the Delvina gas field next March. “The drilling rig for the first Delvina horizontal gas development well (D34H1) arrived in Albania, cleared customs and is en route to the Delvina gas field for an expected spud date in March 2014. Concurrently, Stream is pursuing various strategies to bring the existing Delvina D12 and D4 gas wells on line,” Stream Oil said in a statement.
Stream reopened the Delvina D12 well in mid-2013 to commence production and gas sales following completion of the first stage of the thermal power plant in late 2013.
“The dedicated Delvina gas operations team has been focused to repairing the existing vertical gas wells and ensuring the field is prepared for horizontal drilling,” said Dr. Kapotas, President and Chief Executive Officer. “Despite delays experienced in 2013, we believe that we now have all the necessary equipment and experience in place to move ahead with Delvina gas production in the near future. The drilling rig for the horizontal well will later be used to drill our Delvina Block exploration well later in 2014.”
Stream Oil & Gas Ltd. is a Canadian-based emerging oil and gas production, development and
exploration company focused on the re-activation and re-development of three oilfields and a gas/condensate field in Albania.