More good news from MXP on the shallows as they notch up further pay zones from the Middle Jurassic reservoirs seen in the first ASk-1 discovery.
This bodes well for greater volumes and higher production numbers once the licence is fully appraised.
The shallows (wells up to 2000m) are already producing around 5000bopd for MXP with further increases likely. This production provides the company with excellent cash flow and helps support their more ambitious deep well exploration program which is set to reveal results in the next 4 to 5 weeks on NUR-1.
The markets having the usual ‘toys out of the pram’ periods at present as it shows its displeasure at the pontificating politicians playing ‘chicken’ with the greater world economy simply to further their own means.
Politics and the markets are not good combinations.
14 May 2012, Max Petroleum Plc
Drilling Update - Successful appraisal well at Asanketken Field
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, announces that the ASK-J1 appraisal well in the Asanketken Field has reached a total depth of 1,378 metres with electric logs indicating 36 metres of net oil pay. This includes 27 metres of high quality net oil pay in five zones at depths ranging from 1,240 to 1,321 metres in the same Middle Jurassic reservoirs that were proven productive in the first two wells drilled in the Field. Reservoir quality appears excellent with porosities ranging from 18% to 33%. In addition, there appears to be a shallower productive section in the Middle Jurassic which has not been encountered previously in the Field. These new reservoirs occur at depths from 1,069 to 1,090 metres, and include a total of nine metres of net oil pay in three zones with porosities ranging from 18% to 29%. The Company is running production casing in the well, which will be completed and placed on test production. The Zhanros ZJ-20 rig will now move to drill the ASK-J2 appraisal well in the Field.