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25 Sep 2013 07:00
Max Petroleum Plc
(the "Company")
Successful well result at Uytas
Spudding of wells at Eskene North and Uytas fields
25 September 2013
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce positive drilling results at Uytas, and the spudding of appraisal wells at the Eskene North and Uytas fields.
In the Uytas field, the UTS-15 appraisal well successfully reached a total depth of 200 metres, with electric logs indicating four metres of net oil pay in Cretaceous reservoirs over a 52 metre interval ranging in depths from 103 to 155 metres, in line with expectations. Reservoir quality is excellent. Hydrocarbon shows were not encountered in the shallow Albian section. The Company plans to complete the well and place it on test production as soon as practicable.
At Uytas the Company has also commenced drilling the UTS-12 appraisal well. The well will be drilled to a total vertical depth of approximately 450 metres targeting Cretaceous and Jurassic reservoirs using the mobile truck mounted rig from Zhanros. After UTS-12, an additional six wells remain to be drilled as part of the initial appraisal programme in the field.
The Company has also commenced drilling the ESKN-2 appraisal well in the Eskene North Field on Block E using the Zhanros ZJ-20 rig. The well is the first appraisal well at the field and will be drilled to a total vertical depth of approximately 1,400 metres, targeting Triassic reservoirs.
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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