Project Profile

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Location: EIV-1 Suceava Concession, North East Romania
Value: Undisclosed
Exploration Start: November 2017
Production Start: September 2018
Reserves: 15 bcf
The Bainet gas field is located on the EIV-1 Suceava Concession in North East Romania. Bainet, which was drilled in November 2017 and completed as a producer, has been connected to the Raffles operated Bilca gas processing plant via a 2.2km flowline tie back to the existing production infrastructure. The Well was drilled to a total depth of 600m and encountered 9m of reservoir with 8m of net gas pay consisting of a good quality Sarmatian sandstone reservoir. Bainet was the first ready-to-drill prospect out of the multiple prospects and leads identified on the Concession. The Bainet field is estimated to hold approximately 1.5 billion cubic feet recoverable resources.
Operators:
Prospex Oil & Gas: 50% interest
Raffles Energy: 50% interest