6th Nov 2013 12:45
LONDON (Alliance News) - Max Petroleum PLC Wednesday said it has received successful drilling results from an appraisal well in its Sagiz West field and two appraisal wells at its Uytas field.
The oil and gas exploration and production company, with operations in Kazakhstan, said the SAGW-9 appraisal well in the Sagiz West field reached a depth of 1,440 metres and found a 19 metre gross high quality reservoir in the Triassic formation.
The company is setting production casing in the well and will begin testing SAGW-9 as soon as practicable.
Max Petroleum said the UTS-18 well in the Uytas field found five metres of excellent quality oil pay and the well will be completed and placed on test production as soon as practicable.
The company also said the UTS-17 well in the Uytas field found three metres of excellent quality oil pay and the well will also be completed and placed on test production as soon as practicable.
Max petroleum shares were trading flat at 3.90 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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