INTERIM DRILLING ACTIVITY ANNOUNCEMENT Three cores have been taken over the main reservoir targets, Beds V & VII, in Well 1 on Caspian’s Ashvaz licence. Cores 2 & 3 intersected the reservoir targets which indicated live oil over sections of a 6m interval (~627m to 633m). There is potentially 2.0m of net pay with porosity ranging from 8-20%. The porosity is described as interfossiliferous and fractured displaying “common bright yellow & bluish fluorescence, with bright white bluish streaming cut and hydrocarbon odour”. The well has reached target depth of 740 metres and it is planned to run wireline logs on Friday 26 October before making a final decision on whether to case the well for pump testing at a later stage. Background Well Name Caspian Interest Type Location (Tenement) Latitude / Longitude Drill Depth Spud Date Current Activity COG Mailisu III # 1 100% Oil exploration Ashvaz Block 41.260774°N 72.457251°E 690m 26/09/2007 Waiting Wireline Logging Unit The well, on the southern edge of Caspian’s Ashvaz block, was designed to test for the northern limit of the Mailisu III oilfield. It is Caspian’s first well in its planned eleven well drilling programme in the northern Fergana Basin, Kyrgyz Republic.
CIG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
