16th Oct 2013 07:00
Max Petroleum Plc
(the "Company")
Unsuccessful appraisal wells at Sagiz West and Uytas
16 October 2013
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, today announces that it has completed drilling the SAGW-14 appraisal well to a vertical depth of 1,423 metres without encountering sufficient hydrocarbons to be commercial and it will be plugged and abandoned. The results of the well will be analysed and integrated into the geotechnical evaluation of the field. The Zhanros ZJ-30 rig will next move to drill the SAGW-9 well, one of seven wells remaining in the current appraisal programme in the field.
In the Uytas field, the UTS-9 appraisal well reached a total depth of 550 metres, without encountering sufficient hydrocarbons to be commercial and will also be plugged and abandoned. The Zhanros mobile truck mounted rig is now moving to the UTS-18 appraisal well, which will be drilled to a total depth of approximately 450 metres targeting Cretaceous and Jurassic reservoirs. After UTS-18, an additional three wells remain to be drilled as part of the initial appraisal programme in the field.
Enquiries:
| ||||||||||||||||||||
Richard Hook, Chief Operating Officer of Max Petroleum Plc, is the qualified person that has reviewed and approved the technical information contained in this announcement. Mr. Hook is a member of the Houston Geological Society and holds both Masters and Bachelors of Science degrees in geology.
|
Related Shares:
MXP.L