Transeuro provides update on its Ukraine operations.

After entering the C12 reservoirs at 3107 meters, strong gas shows have required the mud weight to be increased from 1.15 s.g. up to 1.26 s.g. (specific gravity). The drill bit was replaced and as at 6 am local time today, the well was drilling ahead with 8.1/2" hole in the C13 interval at a depth of 3226 meters, with continuous background gas and connection gas up to 18% by volume in the drilling mud and a 'Rate of Penetration' (ROP) around 2 meters per hour.

Over the next week the Company expects to encounter the top C14 interval around 3380 meters and drill to the 'Total Depth' (TD) of around 3520 meters. Overall the company anticipates perforating and testing up to 5 separate intervals: Turonian, C12, C13, C14 and C15.

Tags: Transeuro Energy Corp.