Cadogan Petroleum confirms that rig mobilisation to the Borynya 3 well site was completed on 4 July. The rig was accepted by the competent authorities and commissioned on 7 July. Safety equipment was duly tested and spud work-over operations commenced on 10 July.

The Company is presently running in a drill-pipe string to assess well integrity before logging and confirmation of intervals to be tested. An updated interpretation of the original data has successfully identified other intervals not previously evident or highlighted.

The well will be tested in the interval from 2699m to 2745m in an interlayered sandstone - claystone reservoir related to the Golovetska formation in the Oligocene. A recent petrophysical re-evaluation highlighted for this interval 25 meters of net pay with an average porosity of 15% and average water saturation of 35%. Two other, similar intervals will be finalised after a log evaluation that will be run in the cased hole.

Tags: Cadogan Petroleum plc