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Kulczyk Oil Ventures Inc. (KOV) identified two potential hydrocarbon-bearing zones in its Makeevskoye-21 (M-21) well in Ukraine. The well was cased to total depth, 2,210 m (7,250 ft), to enable future testing.
The first zone, the R8 zone, which correlates with the gas producing zone in the Makeevskoye-19 well, has been perforated and flowed natural gas at a test rate of 3.0 million cu ft per day (MMcf/d) on an 8-mm choke. The well is expected to be tied-in for commercial production third quarter 2012.
As a result of the successful testing of the M-21 well and the consistently high production rate from the M-19 well, the drilling program for 2012 is being revised to bring forward the timing for the drilling of the Makeevskoye-20 well.
The North Makeevskoye-1 (NM-1) exploration well has been drilled to its planned total depth of 2,500 m (8,202 ft), wireline logged and cased to total depth. Evaluation of both the wireline logs and information obtained during the drilling of the well indicates potential for hydrocarbon accumulation in four reservoir units in Bashkirian and Serpukovian aged sediments. Two reservoir units are within a 70-m (229-ft) thick limestone interval and another appears to be within a 30-m (98-ft) thick sandstone.
Production testing of the NM-1 well is expected to take place third quarter 2012. The drilling rig will start moving to the M-20 location shortly and the M-20 well is expected to spud mid-July.
KOV’s subsidiary, KUB-Gas LLC, has a 70% effective ownership interest in the Makeevskoye, North Makeevskoye and Olgovskoye license areas.