2nd Apr 2014 07:01
Max Petroleum Plc
(the "Company")
Successful appraisal well at Sagiz West
2 April 2014
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, is pleased to announce successful drilling results of the final well in the current appraisal drilling programme in the Sagiz West Field.
The SAGW-7 appraisal well has reached a depth of 1,438 metres with electric logs indicating 24 metres of net pay in four Triassic reservoirs over a 117 metre gross interval at vertical depths between 1,172 and 1,289 metres, including 19 metres of net oil pay in three upper reservoirs and five metres of net gas pay in one lower reservoir. Reservoir quality is excellent with porosities ranging from 15% to 27%. The Company is setting production casing in the well and will begin testing SAGW-7 as soon as practicable.
The Zhanros ZJ-30 rig will next move to drill the KZIE-5 well, an appraisal well in the East Kyzylzhar I Field designed to evaluate several Jurassic reservoirs based on the Company's detailed technical analysis of additional 3D seismic data acquired over the field in in 2013.
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Richard Hook, consultant to 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. |
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