The well penetrated a number of gas bearing intervals and based on petrophysical evaluation from a third party consulting company and in-house resource volume estimation, the gas resource initially in-place associated with the ZJS-02 drainage area alone is estimated at approximately 68bcf.
Plans are being finalized to drill the next well (ZJS-03) late in the first quarter of 2011on the upthrown block, which is larger than the downthrown block drilled in by ZJS-02.
The company estimates that the recoverable gas resource in its entire 175,000 acre Zijinshan gas asset at approximately 300bcf, based on volumetric calculations using regional data assumptions and preliminary Zijinshan field-specific data.
The company’s Zijinshan gas asset covers an area of 175,000 acres in the Ordos Basin in Shanxi Province, China.
Camac Energy owns 100% of the foreign contract interest in the Zijinshan production sharing contract, is the asset operator, and is in partnership with PetroChina CBM.
