Australia's Jupiter Energy Ltd., a Kazakhstan-focused oil exploration and production company, trading on AIM, ASX and KASE, provided Tuesday the following drilling update at Well 19 in the East Akkar field in Kazakhstan.
Well 19 Drilling Update
Well 19 was spud Friday Dec. 26. The well is being drilled on the East Akkar field between the J-51 and J-52 wells, both of which have been producing oil under trial production licenses. Well 19 will target the mid-Triassic level in an area of existing C1 reserves. If successul, the well will be placed into Trial Production immediately after completion.
The well is expected to take approximately 60 days to reach target vertical depth 10,990 feet (3,350 meters) and the commencement of the drilling of Well 19 means that the Company has met all of its 2014 work commitments under the Block 31 License Contract.
The Company will update shareholders on the progress and results of the drilling program at the appropriate time.
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