UK based Max Petroleum has said that the initial results from the Uytas prospect in Block A, Kazakhstan, indicate a potentially significant commercial oil discovery.
The UTS-1 exploration well has reached an intermediate depth of 300m with electric logs indicating 16m of net oil pay at depths from 60m to 76m in the Cretaceous Formation, with a potential 86m thick oil column present at depths from 60m to 146m.
The company has run casing over this portion of the well and will continue to drill ahead to a total depth of approximately 900m to evaluate its principal exploration target sands in the Jurassic and Triassic sections.
The company said that the company will test the shallow Cretaceous zone after evaluating the deeper horizons.
Max Petroleum executive co-chairman Robert Holland said that the initial results of Uytas are very encouraging and could prove to be significant given the apparent size of the oil column.