Independent Resources said that the CTF Rig 06 has reached the total depth in the Sidi Toui-4 (ST-4) exploration well at 1603m (along hole measured depth, corresponding to a true vertical depth subsea level of 1009m).

The ST-4 well was designed and successfully drilled as a deviated wellbore through the Upper Ordovician, penetrating 364m of the objective Bir Ben Tartar Formation at an average deviation angle of 77 degrees.

Although oil and gas shows were encountered in the Bir Ben Tartar reservoir unit, evaluation of the extensive logging suite acquired in the Ordovician section indicates that the oil saturation and reservoir fracturation is insufficient at the ST-4 location to justify fracture stimulation and testing of this well bore.

The well will now be plugged and abandoned, without testing, and the CTF Rig 06 will be demobilized.

The Oryx-1 and Sidi Toui-4 wells form part of the work program that was agreed when Petroasian Energy farmed into the permit.