The well has reached a depth of 1,406m with electric logs indicating 27m of net pay, including 21m of oil and 6m of gas pay, over a 114m interval in the Triassic formation at measured depths between 1,177m and 1,291m.
According to the company, reservoir quality is very good with porosities ranging from 18% to 25%.
Max Petroleum estimates oil in place in the Sagiz West field at 66 million barrels with expected recovery factors ranging between 20% to 30%.
The company said it is running production casing in the well, which is expected to be completed and placed on test production upon receipt of government approvals.
