Max Petroleum Strikes Oil at Kazakhstan ASK-J2 Well

Kazakhstan-focused Max Petroleum revealed Friday that it has struck oil at its ASK-J2 well at the Asanketken Field. Max drilled the ASK-J2 well to a depth of 4,595 feet (1,401 meters). The well produced 30 feet (9 meters) of net oil pay in two zones at depths ranging from 4.128 to 4,336 feet (1,286 to 1,322 meters). Max said that the reservoir quality appears excellent, with porosities ranging from 18 to 30 percent. Max plans to run a production casing in the well. The production casing will be placed on test production once it is completed.

The Zhanros ZJ-20 rig, which has been drilling the well, will now shift to drill the Baichonas West prospect on Block E, added Max.
The ASK-J1 well in the Asanketken Field has also begun testing from depths between 4,290 and 4.316 feet (1,308 and 1,316 meters), flowing at a stable rate of 300 barrels of oil per day (bopd), Max said. This is the first of six zones which will be on test production for up to 90 days each. The Asanketken Field is currently producing approximately 2,000 bopd from three wells.
Oil analysts at London-based investment bank Oriel Securities said the update was “positive” and “suggests that the recoverable reserves could increase” at the Asanketken Field.
Max also disclosed that, based on the final technical review of recently acquired 3D seismic data in western Block E, a new post-salt prospect has been added to its drillable portfolio. Tolegen West is a four-way Triassic rim prospect located near the Tolegen Field in Block E. It is estimated by the company to have a recoverable resource potential of eight million barrels with a geologic chance of success of 26-percent. 
Meanwhile, Max is continuing to drill its NUR-1 well on the Emba-B pre-salt prospect, which is also located on Block E. The firm expects to reach total depth here later in June.


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Chase | Jun. 11, 2012

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