Worldwide Energy News - Article

Caspian (Afminex) spuds first of planned 11 wells - Kyrgyzstan

Australian explorer Caspian Oil & Gas has spudded the first of a planned 11 wells on its cluster of blocks in the northern Fergana Basin.  The first well is sited on the Ashvaz block and is testing the northern limits of the producing Mailisu III field; it has a planned depth of about 800m.  An earlier stratigraphic well drilled nearby intersected several meters of oil-bearing carbonate reservoir.  The Mailisu III field has produced over 700,000 barrels of oil to date.  The program calls for six wells (to depths between 600-1,000m) in the Ashvaz license, two wells in the Mayli-Su East and Charvak North licenses and three wells in the Charvak license.  Caspian acquired its 70% interests in the Mailisu III permit in April 2006 for US$ 10,000 and an obligation to drill four wells.  The company has the right to prospect at all depths and will consider gas objectives at a later date.  Oil reserves are in fractured Paleogene limestone and sandstone beds, while the gas is in Cretaceous and Jurassic sandstone reservoirs. 

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