Max Petroleum announces successful well results at two fields in Kazakhstan

Azerbaijan, Baku, Sep. 9 / Trend E. Kosolapova/

Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, on Monday announced positive drilling results in both its Sagiz West and Uytas fields.

"The SAGW-5 appraisal well in the Sagiz West Field has reached a total vertical depth of 1,395 metres, with electric logs indicating 16 metres of net oil pay over a 19 metre interval at depths ranging from 1,269 to 1,288 metres. Reservoir quality appears very good with porosities ranging from 15 percent to 25 percent," the company said.

The company will run production casing in the well, which will be completed and placed on test production after obtaining the requisite governmental approvals.

The ZJ-30 drilling rig will next move on to drill the SAGW-6 appraisal well in the Sagiz West Field.

Moreover, in the Uytas field, the UTS-13 appraisal well successfully reached a total depth of 208 metres, with electric logs indicating eight metres of net oil pay in Cretaceous reservoirs over a 53 metre interval ranging in depths from 106 to 159 metres in line with expectations. Reservoir quality is excellent.

"The shallow Albian was also encountered in this well with visual shows and oil saturation from 46 to 50 metres," Max Petroleum said.

The Company plans to complete the well and place it on test production as soon as practicable.

The Company has also successfully reached the target depth at the UTS-14 appraisal well in the Uytas Field which is currently being logged. The logging results will be announced as part of the next drilling update.

Max Petroleum Plc is an oil and gas exploration and production company focused on Kazakhstan. The company holds 100 percent of the Blocks A and E at the license area covering over 12,455 squire kilometers in the highly prolific Pre-Caspian Basin in West Kazakhstan.