Caspian Oil and Gas West Mailisu #2 Well Encounters Oil Show

Caspian Oil & Gas Limited is pleased to report that good oil shows were encountered in Bed II over the interval 1691-1697m in its West Mailisu #2 well.

The West Mailisu #2 well is on Caspian’s 100%-owned West Mailisu licence in the Kyrgyz
Republic, Central Asia.

The shows are described by the wellsite geologist as “strong oil shows with visible oil in cuttings with a smell of hydrocarbons and bright yellow bluish fluorescence”. Bed II, which was a secondary target, is described as a fine to medium coarse-grained sandstone. Logs have been recorded and a
decision about further testing will be made following interpretation.

Caspian Chief Executive Officer Graeme Parsons said finding oil in Bed II was a pleasant surprise as it was not common in the Northern Fergana Basin.
“Bed II confirms the structure, auguring well for the deeper targets,” Mr Parsons said. “Based on our geologist’s description of moveable oil, it may be possible to produce from Bed II at a later stage.”

Intermediate seven inch casing has been set at 1,713m (driller’s depth) and the rig is waiting on cement to harden before drilling ahead into the first primary target, (Bed III – Eocene aged sandstone) expected at 1,740m. Beds V and VII (Eocene limestone) will then be tested prior to
reaching the proposed well depth of 2,000m.

The West Mailisu prospect lies adjacent to the Mailisu IV oil field, which has produced more than 42mmbbls of oil. The targeted feature is defined by a NW-SE trending reverse fault on the northern flank. Seismic sections across the structure indicate a robust closure (see figures 2 and 3).
The prospect has the potential to contain oil reserves of up to 9.7mmbbls, with mean potential reserves of 4.5mmbls calculated for the Eocene reservoirs.

Source www.caspianogl.au

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