The M-17 well is operated by KUB-Gas, a partially-owned subsidiary in which SEN has a 70% effective ownership interest through its 70% shareholding of KUBGas Holdings.
The M-17 well will be drilled as a vertical well with a planned total depth (TD) of 3,450m. The M-17 well is an appraisal well and will be drilled within the same structural closure as the M-16 discovery well which is located approximately 1km to the southeast.
The well will appraise the productive S6 sandstone currently producing in M-16 and also in O-15, where it is producing from a separate structure within the Olgovskoye field. Other targets for the M-17 well include the S5 limestone encountered in the M-16 well.
The well is expected to take approximately 85 days to reach total depth.
Future 2014 development and exploration of the M-16 structure is planned with the drilling of the deep M-15 well located approximately 1km southeast of M-16 and by the M-18 well which will be located approximately 2km southeast of M-16.
The Company believes the Serpukhovian formations S5, S6 and S13 within the M-16 structure may contain up 28 Bcf of recoverable natural gas.
