Caspian Oil & Gas Limited provides an update from its West Mailisu #2 well on the Company's 100%-owned West Mailisu licence in the Kyrgyz Republic, Central Asia.

Caspian reported on 12 September that its West Mailisu #2 well was suspended awaiting production testing with a rogressive cavity pump (PCP).

The PCP proved incapable of lifting the fluid to the surface, although on pulling the completion from the hole oil was found within 8m of the surface. As the pump had been set just above the perforations (around 1680m) it is possible to conclude that there is little to no water being produced from the formation. Currently, there is around 75bbls of fluid in the hole which is most likely entirely oil.

In order to test and produce from the well, we are currently determining the appropriate pump and will commence production testing once the equipment has been sourced. Once having undertaken the production test in-well-bore radial drilling or fraccing will be considered as a way to enhance productivity.

Initial estimates suggest that there is a potential mean recoverable resource of 1.0 million barrels, with an upside case of 2.2 million barrels of oil within Bed III of the West Mailisu structure.

The West Mailisu prospect lies adjacent to the Mailisu IV oil field, which has produced more than 42mmbbls of oil.

Tags: Caspian Oil & Gas Limited