The NM-2 well is estimated to have reserves on a lower range of 14.44 billion cubic feet (Bcf) to a higher estimate of 137.48Bcf.
Kulczyk is planning to drill the exploration well to a measured depth of 3,187m and vertical depth of 2,636m with an objective to target multiple sandstone reservoirs of Moscovian, Bashkirian and Serpukhovian age.
The exploration well is operated by Kulczyk’s 70% owned subsidiary KUB-Gas.
The North Makeevskoye Exploration License is located immediately northeast to the operators Makeevskoye and Olgovskoye licences, about 130km northwest of the City of Lugansk in Ukraine.
The company is expecting the license to have geologically similar gas and condensate structural trend as that of the productive areas along the primary South-Eastern Dnieper-Donets Basin.
The license has a five year term which started on 29 December 2010.
