MCF drills thru Purbeck, Malm at Kinsau-1A in Germany

Executive Summary

• MCF Energy Ltd. provided an operational update on the Kinsau-1A well in Lech, Germany, confirming the successful penetration of the primary target, the Jurassic Purbeck carbonate interval, and the secondary target, the Jurassic Malm carbonate.
• The well reached a total depth of 3,310 metres, with drilling rates of 7 to 15 metres per hour. Significant hydrocarbon shows were observed in the Purbeck interval, including visible oil on the mud pits.
• The company highlighted the strategic importance of these findings for European energy security and carbon footprint reduction, noting that the well structure appears to have gained 4-6 metres of elevation relative to the historical Mobil Kinsau-1 well.

Key Details

• Well Location and Status: Kinsau-1A well in Lech, Germany; currently conducting well logging activities.
• Drilling Progress:
  • Reached depth of 3,022 metres on Sept. 8; ran logs and cemented 9-5/8-inch casing at 3,006 metres.
  • Began drilling ahead on Sept. 9.
  • Penetrated the Jurassic Purbeck carbonate interval on Sept. 10 (the first target).
  • Drilling continued into the Jurassic Malm carbonate (the second target), identified at expected depth.
  • Reached Total Depth (TD) of 3,310 metres.
• Operational Metrics:
  • Drilling rate: 7 to 15 metres per hour.
  • Structural elevation: The well appears to have gained approximately 4 to 6 metres of structural elevation compared to the Mobil Kinsau-1 well.
• Hydrocarbon Indications:
  • Good shows of hydrocarbons identified in the Purbeck interval using recovered samples.
  • Oil was observed on the mud pits.
• Historical Context (Kinsau-1):
  • Original 1983 well by Mobil drilled to 3,940 metres.
  • 1983 test results: Over 24 MMCF/day of gas and condensate.
  • Variable rate test (July 28-29, 1983) reported rates of 7,712 MCFD, 14,832 MCFD, and 24,706 MCFD.
  • Total test recovery: 45.9 MMCF of gas and 1,510 barrels of condensate.
• Ownership: Genexco GmbH, a 100% subsidiary of MCF Energy Ltd., holds a 20% partner interest in the Kinsau-1A well.

Notable Quotes

• "I am at the well site and was very excited to see the results when we encountered the Purbeck and the second target interval the Malm Carbonate. Germany has significant natural gas resources within their borders which can reduce imports, keep money in Germany and provide energy security for both personal and industrial needs. Natural gas found within Germany will have a much lower carbon footprint than imported gas further helping the environment." — James Hill, Chief Executive Officer