Shaikan-6 Appraisal Well
The Shaikan-6 appraisal well, 9 km to the east of the Shaikan-2 appraisal well, has drilled to the depth of 3,455 metres in the Kurre Chine-B formation in the Triassic where casing has been set. A preliminary evaluation of the comprehensive logging suite indicates a continuous oil column in the Jurassic Barsarin, Sargelu, Alan and Mus formations and extending into the Butmah formation. Well logs from the Triassic indicate the hydrocarbon presence in both the Kurre Chine-A and Kurre Chine-B formations.
Shaikan-6 has recorded the deepest oil shows so far as indicated by both logs and core samples obtained by the Company. These oil shows have been recorded below the Company's originally prognosed Jurassic oil/water contact level for the Shaikan structure. A testing programme is planned to verify the deeper oil potential.
The well will continue drilling to an estimated TD of 3,800 metres, subject to technical conditions.
Shaikan Extended Well Test
As part of the ongoing Extended Well Test ("EWT") on the Shaikan block, the output from the Shaikan-1 & 3 EWT facility has reached 442,592 gross barrels of oil from 1 January 2012 to 28 April 2012. A total of 187,884 gross barrels of oil has been produced in March and 156,428 gross barrels of oil in April to 28 April 2012.
Work is ongoing to upgrade the existing Shaikan-1 and Shaikan-3 EWT facility, in parallel to the design and construction of a new EWT facility for the Shaikan-2 location.
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