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17 Sep 2013 07:00
Max Petroleum Plc
(the "Company")
Unsuccessful appraisal well at Baichonas West
Successful appraisal well at Uytas
17 September 2013
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, today announces that it has completed drilling the BCHW-3 appraisal well in the eastern portion of the Baichonas West Field on Block E to a total vertical depth of 1,525 metres. The well encountered oil and gas shows while drilling but electric logs indicated insufficient hydrocarbons to be commercial and it will be plugged and abandoned. The results will be analysed and integrated into the geophysical evaluation of the field for placement of further appraisal wells currently scheduled to be drilled in Baichonas West during 2014. The Zhanros ZJ-20 rig will next move to drill the ESKN-2 well on Block E, the first appraisal well to be drilled at the Eskene North field.
In the Uytas field, the UTS-16 appraisal well successfully reached a total depth of 200 metres, with electric logs indicating three metres of net oil pay in the Cretaceous Aptian reservoir over a 33 metre interval ranging in depths from 111 to 144 metres. Reservoir quality is excellent. Hydrocarbon shows were not encountered in the Albian section. The Company plans to complete the well and place it on test production as soon as practicable.
The Zhanros mobile truck mounted rig is now moving to the UTS-15 appraisal well, which will be drilled to a total depth of approximately 200 metres targeting Cretaceous reservoirs. After UTS-15, an additional six wells remain to be drilled as part of the initial appraisal programme in the field.
Enquiries:
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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.
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