Well NK-10, which was drilled in November and December 2011, was tested by our partners LGI between 1 April and 9 April 2012, at depths between 1288 and 1298 meters.
The tests have revealed high water content with only minor gas and oil film shows. Accordingly, no further tests are planned for NK-10 and accordingly NK-10 will now be plugged and abandoned.
Exploration and appraisal work on NW Konys will continue with production from the Galaz Contract Area currently running at the rate of 160 bopd.
David Wilkes, CEO commented
“The test results from NK-10, while disappointing, provide very useful information on the boundaries of the reservoir encountered, together with the results of tests in March 2012 on Well NK-9.”