RE: RNS31 Oct 2025 18:06
Looks like Block 8 is going to be good,....... Block 8 Deeps:- 2823sq Km contract area, 3 identified structures, cost $60m from future production at $5 per barrel waiting for licence, owned by Procyon investments (Member of the Oraziman family) The Block 8 licence was previously owned by LG International the Korean conglomerate, who in 2006 started to acquire 3D seismic data over approximately 456 sq km, in Sep 2011, LG-GeoPark abandoned plans for a $10m drill, quoting regulatory delays "The Sholkara prospect has an unrisked mean oil resource estimate of 100-400 million bbl." The resumption of production from block 8 will trigger the repayment of the $3.1m loan advanced to allow drilling
P-1:- Drilled 2016 Depth 4203m, Sholkara structure licence to 2027, testing 3m interval at 3391m Jul 2025, flowed at 270 Bopd, Water issues requires a new sidetrack starting Nov 2025
P-2:- Drilled 2019 Depth 3449m Sholkara structure Licence to 2027 Production commenced Jun 2025 now flowing up to 846 Bopd on a 4mm choke Oct 2025
AKD-4:- Reached target depth 3922m awaiting testing Jul 2024 Akkuduk structure, Licence not yet renewed due to Kaz authorities Oct 2025
T-2D:- Reached 3408m target 3500m awaiting testing Jul 2024 Toresai structure Licence not renewed Sep 2024
The required consent from the Kazakh Ministry of Energy has been received with completion now dependent on the approval of the Kazakh Antimonopoly Authority.31 Oct 2025