RNS Number : 1646C
Zhaikmunai LP
09 November 2009
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR into AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES
ZHAIKMUNAI L.P.
Chinarevskoye Well 119 tests exceed management expectations
URALSK, November 9th, 2009 -- Zhaikmunai LP (LSE:ZKM) ("Zhaikmunai"), the oil and gas exploration, development and production business based in northwestern Kazakhstan, today reports the completion of drilling and test operations of its future production well 119 in the northeastern part of the Chinarevskoye oil and gas condensate field.
The well was flowed for ten days and exceeded expectations, flowing at 26,475 million cubic feet (MMcf) of natural gas and 4,410 barrels of condensate per day on a 20 mm choke from the Middle Devonian Biski carbonate formation. Additional hydrocarbons are expected in the Afoninski reservoir, which will be tested separately at a later stage.
The multi-rate test of the Biski reservoir was carried out in a 1,049m horizontal side-track equipped with a 748m slotted liner. This is the first horizontal well drilled by Zhaikmunai in the Biski-Afoninski reservoir. With a total measured depth of 5,889 meters, Well 119 is also the longest well ever drilled in the Chinarevskoye Field.
Kai-Uwe Kessel, Zhaikmunai' CEO said
"'The test on well 119 is very encouraging. The results have exceeded our expectations and confirm the technical assumptions the management has made in relation to the Chinarevskoye field. This is an important milestone in the development of our operations in Kazakhstan and underlines our confidence that further progress will be made in exploiting the potential of the field."
For further information about Zhaikmunai please visit www.zhaikmunai.com
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