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Caspian Oil Mobilizes Drill Rig to East Mailisu

Source: www.gulfoilandgas.com 9/30/2009, Location: Asia

Caspian Oil & Gas Limited’s oil drill rig has completed the 2-well drilling programme for SPC (Santos subsidiary) in southern Kyrgyz Republic. The rig is now being mobilised to drill the Company’s own prospect at East Mailisu and is expected to be ready to spud by mid-October.

The East Mailisu prospect is defined by recent seismic (see Figure 1) which indicates that this prospect is a faulted 3-way-dip closure. It was initially mapped using reinterpreted Soviet era 2D seismic lines (Figure 2). Live oil was encountered in 2006 in core samples from uranium exploration drilling very close to the planned drill site. The target Beds V and VII are expected to be intersected at a depth of around 650 metres.

The structure also has potential for gas in stacked sands in the deeper Cretaceous and Jurassic sections. The well will be drilled to test the potential of these sections provided there are significant hydrocarbon indications encountered while drilling the upper sections. Local gas infrastructure (processing facility about 8km to the south) could allow early development and sales of any discovery. Mapping indicates a mean reserve of 2.1 mmboe (unrisked) and a high side of up to 4.96 mmboe.

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Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

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