Friday, April 02, 2010
Jupiter Energy reports more hydrocarbon shows in Middle Triassic zone of J-50 oil discovery
Australian listed, Kazakhstan focused oil and gas exploration junior, Jupiter Energy (ASX: JPR) has continued to core and drill the middle Triassic reservoir in the J-50 oil discovery block on Block 31.
The well is located on Block 31 which covers 127 square kilometres - in the Mangistau Basin in south-western Kazakhstan, and is located on trend with three existing producing oil fields.
Operations on the J‐50 well are currently focused on retrieving core as evaluation of the Middle Triassic reservoir, the primary target of the well. This morning the junior oil outfit reported that the third core was cut from 3003m to 3012m with hydrocarbon shows and gas returns during coring.
Jupiter Energy has now intersected 73 meters of Middle Triassic reservoir which is expected to be 120 meters thick.
Another update is expected on Tuesday after the Easter holiday weekend.
http://www.proactiveinvestors.com.au/companies/news/6195
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