announcement

Well #3 spudded, weather impacting on activities, some equipment failures. Water in Bed VII. Bed V had show of extensive oil.

Be patient.


ACTIVITY ANNOUNCEMENT
The COG Mailisu III #3 well was spudded on Wednesday 2 January. This well is designed to further test oil targets in the Palaeogene limestone reservoirs. The well is Caspian’s third in its planned eleven well drilling programme in the northern Fergana Basin, Kyrgyz Republic. Details
Well Name
Caspian Interest
Type
Location (Tenement)
Latitude / Longitude
Current Depth (mRT)
Spud Date
Current Activity
COG Mailisu III #3
70%
Oil appraisal
Mailisu III Block
41.257008°N / 72.45542°E
28m
2 Jan 2008
Cementing conductor pipe
Weekly Activity Conditions at the well site have been impacted by very cold conditions over the past week, requiring continued work on all liquid circuits to keep them from freezing. The conductor pipe is being set and drilling will continue over the coming week, though it is anticipated that the cold will make for slow progress because of associated logistical issues. The Mailisu III #3 well is planned as a deviated well targeting the Palaeogene Bed V & VII reservoirs at a lateral offset of about 230m relative to Mailisu III #2. Perforation and flow testing of Mailisu III #1 well has been impacted by the weather conditions and some associated gear failure. Mailisu III #1 casing was perforated to test Bed VII. Initial results indicate that water was flowing from the reservoir but testing was prematurely halted by equipment failure. Testing of Bed VII and perforation and testing of Bed V will be completed when equipment issues are resolved. Extensive oil shows were encountered when drilling through Bed V in this well.