DRILLING ACTIVITY ANNOUNCEMENT Weekly Activity Drilling Following the running of wireline logs, COG Mailisu III #4 well (Location Map - Figure 1) has been cased and suspended as a future oil producer. Good live oil shows were recorded in both primary reservoir zones (Beds V and VII). The rig is currently moving to the site of COG Mailisu III #5 located some 1.2 km to the SSW. Drilling Details Well Name Caspian Interest Type Location (Tenement) Latitude / Longitude Current Depth (m RT) Spud Date Current Activity COG Mailisu III #5 70% Oil / Gas appraisal Mailisu III Block 41.250967°N / 72.46166°E 0 m to be confirmed Rigging up Background COG Mailisu III #5 is the fifth well in the appraisal programme testing the reservoir potential within the Mailisu III oil field. The main oil reservoir targets are the limestone Beds V & VII at depths of approximately 630-650m GL.
CIG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held