Kulczyk Oil Ventures Inc. report the M-21 well in the Makeevskoye Field, in north-eastern Ukraine, has been cased to total depth (TD) after encountering several gas-bearing reservoirs one of which correlates to the producing zone in the M-19.

M-21 Well

The M-21 well, which was drilled to a TD of 2,210 metres, encountered two potential gas-bearing zones. The first zone, which was encountered at a depth of 1,450 metres in the Muscovian portion of the well, appears to have 6 metres of gas pay based upon interpretation of wireline logs.

This zone correlates to the producing zone in the M-19 well which is approximately 18 metres in total thickness and which produced gas at an average rate of approximately 5.3 million cubic feet per day ("MMcf/d") (3.7 MMcf/d net to KOV) in the month of February 2012.

Tags: Kulczyk Oil Ventures