Cub Energy Inc. announces the Olgovskoye-15 (O-15) well has been cased to a total measured depth of 3,246 metres as a potential gas well. The Company has identified four potential gas zones with an aggregate thickness of twenty-three metres. The O-15 well is operated by KUB-Gas LLC (KUB-Gas), a partially-owned subsidiary in which Cub has a 30% ownership interest.

Olgovskoye-15 Well

The O-15 well was drilled as a directional well to evaluate the potential of the Bashkirian R30c and Serpukhovian S5 reservoir sands to further develop the gas production capability of the Olgovskoye Field. Well logs indicated potential gas pay in the R30c and in the Serpukhovian S5 zone. Potential gas pay was also encountered in the B3 and R22 zones. Gas was initially discovered in the S5 zone of the recently drilled Makeevskoye-16 (M-16) well, located approximately 13 kilometres to the southeast of O-15, which tested at 4.3 million cubic feet per day (MMcf/d) in April 2013.

Tags: CUB Energy Inc.