Kazakhstan-focused junior explorer Max Petroleum announced Tuesday that the ZMA-E7 development well in the country's Zhana Makat field has found hydrocarbons in Jurassic sandstone reservoirs after hitting its targeting depth of 3,200 feet. Max said it now plans to complete the well and then place it on production as soon as possible.
The Zhanros ZJ-30 rig used to drill the well will now be mobilized to the Zhana Makat main camp where it will be stacked. This will ensure the rig is ready to drill the ZMA-E8 well once regulatory permission to drill the well is granted; Max expects permission to be granted during the third quarter of this year.
Max said that the estimated cost of drilling the ZMA-E8 well will be less than $1 million, in line with other wells drilled at Zhana Makat. The well will target a "potentially-significant" extension of the Zhana Makat field to the southeast of the existing appraised area.
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