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Caspian Oil and Gas West Mailisu #2 Well Progress Report

Caspian Oil & Gas Limited (ASX: CIG) reports that its rig was drilling ahead on its West Mailisu #2 well at 1,568m at 8.00 am Perth time, on the way to a casing point at 1,700m and the primary target (sandstone Bed III) at 1,740m. The limestone Beds V and VII will then be tested prior to reaching the proposed well depth of approximately 2,000m.

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

The West Mailisu prospect lies adjacent to the Mailisu IV oil field, which has produced more than 42mmbbls of oil. West Mailisu #2 will target oil in Eocene age sands and carbonates (Beds III, V & VII).

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.

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.

The well is being drilled by Caspian’s own rig to a depth of approximately 2,000m, testing the Eocene and upper Cretaceous sands.

Source www.caspianogl.com

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