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Wednesday, September 7, 2011

Tethys Posts Initial Logging Results from Kalypso Well

- Tethys Posts Initial Logging Results from Kalypso Well

Wednesday, September 07, 2011
Tethys Petroleum Ltd.

Tethys announced the initial logging results of its KBD01 (Kalypso) exploration well drilled in the Kul-Bas block some 50 km north west of the Doris oil discovery.

The well has now reached total depth in what is initially interpreted to be rocks of Carboniferous age. Electric logs just run over the deeper section indicate more than 100 meters of gross potential hydrocarbon bearing zones in what is interpreted to be shelf limestones of Carboniferous age. Hydrocarbon shows were also noted whilst drilling. This is in addition to the hydrocarbon indications noted on logs and drill data in the overlying Jurassic section (logged prior to drilling this deeper hole section).

7-inch liner is now about to be run after which a comprehensive testing program on both the Carboniferous and Jurassic intervals is planned following agreement and approvals from the appropriate Kazakh authorities. Obtaining these approvals could take some 2 months (with mobilization of testing equipment to follow thereafter), as this is an exploration well and, unlike appraisal wells, no estimated testing program could be submitted prior to finishing the well.

The nearest field which produces from similar Carboniferous shelf limestones is the Alibekmola field, some 250km to the north in the pre-Caspian Basin Subsalt. It is likely that the limestone interval will require acidisation and possible fracture stimulation to achieve optimal production performance (as do other similar fields). This will be evaluated as part of the test program planning.

Meanwhile, elsewhere in Kazakhstan the AKD06 Doris oil appraisal well is drilling ahead at a depth of 1,755 meters towards the Aptian sandstone target.

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