Project Profile
Location: Kyrgyz Republic
Potential Reserves: 4.5 million barrels
Caspian has previously estimated the prospect to have the potential to hold oil reserves of up to 9.7 million barrels, with mean potential reserves of 4.5 million barrels calculated for the Eocene reservoirs.
West Mailisu #2 Prospect
The West Mailisu #2 prospect in the Kyrgyz Republic lies adjacent to the Mailisu IV oil field, which has produced more than 42mmbbls of oil. West Mailisu #2 is a large, undrilled structure adjacent to a significant oil field, which if successful, will make a significant impact on Caspian’s Kyrgyz production.
Caspian has completed interpretation of the 2010 seismic at its 100%-owned West Mailisu Licence. The company spudded the West Mailisu #2 well on 13 June 2011. Ground conditions and mechanical problems affected drilling progress, but on 11 July 2011, we reported to be drilling ahead at 1,188 metres on the way to the primary target at 1,740m. The limestone Beds V and VII will then be tested prior to reaching the proposed well depth of approximately 2,000m.
Caspian believe West Mailisu #2 has the potential for oil in Eocene age sands and carbonates (Beds III, V & VII) and gas in the Cretaceous and Jurassic-age sands. The West Mailisu #2 well is targeting oil in Eocene age sands (Bed III) at about 1740m and the carbonate Beds V & VII to 2000m. The targeted feature is defined by a NW-SE trending reverse fault on the northern flank.
The prospect could contain oil reserves of up to 9.7mmbbls, with mean potential reserves of 4.5mmbls calculated for the Eocene reservoirs. Gas reserves of 5-10bcf could also be discovered in the
Cretaceous or Jurassic reservoirs. Seismic sections across the structure indicate a robust closure.
Caspian’s own rig will drill the well to a depth of at least 2000m, testing the Eocene and upper Cretaceous sands. The well’s design enables drilling to be extended to test deeper reservoirs should good hydrocarbon shows be indicated in the upper zones.
Operators:
Caspian Oil & Gas Limited: Operator with 100% interest