Arawak Energy Corporation says that following the exploration success at Besbolek disclosed in July 2007, further discovery wells in both its Besbolek and Akzhar fields drilled on the basis of 3D seismic interpretations completed earlier this year.

At Besbolek, well 60 was drilled in the south wing, in one of the down dip fault blocks. Open hole logs indicate that the well has encountered three oil-bearing horizons in the middle Jurassic interval. The total net thickness of the oil-saturated interval is 46 meters. So far, only the lowest level, which has less productive reservoir characteristics, has been tested, with a small inflow of clean oil. However, a productive capacity of approximately 100 barrels of oil per day (“bopd”) is expected from the upper horizons, which will be tested shortly. This well confirms additional down dip oil reserves in the middle Jurassic in the new pool discovered earlier by the successful exploration well 50.

Also at Besbolek, well 62 was drilled in the west wing of the block and has encountered new oil accumulations in the lower and middle Jurassic sediments between two major faults in the down-dip block. A test of the interval 330-334 meters gave an inflow of oil at a production rate of 40 bopd. The upper interval behind pipe at 275-291 meters has not yet been tested and is expected to increase capacity from the well to over 100 bopd.