4th Oct 2013 10:44
LONDON (Alliance News) - Max Petroleum PLC said Friday that it had seen successful drilling results with appraisal wells in the Eskene North and Uytas fields in Kazakhstan.
The ESKN-2 appraisal well in the Eskene North field reached a depth of 1,523 meters, the company said. Logs showed that there was 29 meters of net pay - the thickness of rock that can deliver hydrocarbons at a profitable rate - over a 173 meter interval in the Triassic Formation between 1,222 meters and 1,395 meters deep.
It said that the quality of the reservoir was fair, with the porosity of rock ranging between 15% and 20%. It will begin testing ESKN-2 as soon as was practical, the company said.
The UTS-12 well in the Uytas field had reached a depth of 450 meters. Logs showed that there was seven meters of net oil pay in Cretaceous and Jurassic reservoirs. This included two meters of net oil pay over a four meter interval between depths of 119 to 123 meters, two meters of net oil pay between the depths of 245-247 meters and three meters of net oil pay over a seven meter interval between 311 and 318 meters deep.
The company said it plans to complete the well and place it on test production as soon as practical. It expects to drill the UTS-9 well to a total depth of 550 meters to target Jurassic reservoirs.
Shares in Max Petroleum were trading up 1.7% at 4.10 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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