MCF Energy Welchau-1 Well Testing Update: Light oil recovered during well unloading operations

Executive Summary

• Initial testing of the Reifling Formation at Welchau‑1 (Austria) recovered light oil and gas during well unloading.
• A small acidization treatment (6 m³ over 45 m) achieved inflow but was insufficient to create a stable flow or fully access fracture networks.
• The results support a revised structural model indicating a potential light‑oil column updip of the well, prompting plans for larger stimulation and continued pressure monitoring.

Key Details

• MCF Energy holds a 25 % economic interest; ADX Energy operates (75 %).
• Reifling Formation thickness: 128 m, shallowest of four carbonate reservoirs intersected.
• Acidization treatment: 6 m³ acid across 45 m of perforations.
• Hydrocarbon recovery: light oil and gas sampled at surface during swabbing; samples currently under compositional analysis.
• No stable flow achieved – insufficient inflow suggests the treatment did not reach an open fracture network.
• Well suspended to monitor pressure build‑up and fluid influx; reservoir pressure not yet recorded.
• Operator ADX evaluating a larger acid stimulation using coiled tubing; MCF will review proposed plan.
• Geological interpretation: oil likely present near the oil‑water contact, approximately 500 m updip from Welchau‑1 within the anticline crest.
• Observations of non‑biodegraded oil and an over‑pressured system further support this light‑oil accumulation hypothesis.
• Potential upside: shallow drill depths, existing infrastructure, and possible deeper gas resources in the larger Welchau anticline.

Notable Quotes

(No direct quotes were provided in the release.)