Oil and gas exploration firm Kulczyk Oil Ventures (KOV) said that the Markisa-1 exploration well in Block M, onshore Brunei Darussalam, has been drilled and logged to an intermediate depth of 987m, which includes two of the shallower well objectives.

Preliminary interpretation of wireline, pressure and sampling data indicates that some good quality reservoir has been intersected and although hydrocarbons were encountered in these zones, the hydrocarbon saturation was low and both target objectives appear water wet.

Markisa-1 well will be cased to the current depth of 987m and drilling is expected to restart in approximately four to five days to test the deeper objectives and reach a planned well depth of 1,335m.

Wireline logging has been completed and preliminary evaluation of this data suggests that while low hydrocarbon saturations were encountered in both of the shallow objectives, both sands appear to be water wet.

The partners in Brunei Block M and in the Markisa-1 well are KOV Borneo (36%), Tap Energy (Borneo) (39%), China Sino Oil (21%) and Jana Corporation (4%).

The Markisa-1 exploratory well is the second of a minimum of three wells to be drilled on Block M by Kulczyk Oil and its joint venture partners during the Phase 1 exploration period ending in August 2011.