Jupiter Ready for Well Testing at East Akkar Field's Well 19 in Kazakhstan

Australia's Jupiter Energy Ltd., the Kazakhstan-focused oil exploration and production company, quoted on AIM, ASX and KASE, provided Wednesday the following update on drilling at Well 19 in the East Akkar field in Kazakhstan.

Well 19 is the Company’s eighth well on Block 31, Jupiter’s 100 percent owned permit situated onshore Kazakhstan just east of the city of Aktau and the Caspian Sea. The well is located in an area of already existing C1 reserves, between the already flowing J-51 and J-52 wells.

Well 19 took a total of 53 days to drill and reached a total depth of 10,065 feet (3,068 meters) Feb. 16; the performance of the drilling operation was in line with expectations. Open hole logs have been acquired and production casing is now being run in preparation for a brief period of well testing.

Hydrocarbon shows while drilling, mud logging, and subsequent open hole wireline logs all indicated hydrocarbons in the Mid Triassic reservoir. The open hole logs indicated good levels of oil saturation and porosity, similar to that of the J-51 and J-52 wells which were also drilled on the same structure.

Analysis by local independent consulting firm Reservoir Evaluation Services LLC (RES) confirmed some 326.1 feet (99.4 meters) True Vertical Depth Subsea (TVDSS) of gross reservoir and approximately 277.5 feet or 84.6 meters (TVDSS) of net pay at the Middle Triassic T2B carbonate reservoir unit, the primary reservoir objective in the well.

In addition, analysis also confirmed an additional 50.5 feet or 15.4 meters (TVDSS) of gross reservoir and approximately 34.1 feet or 10.4 meters (TVDSS) of net pay at the Middle Triassic T2A carbonate reservoir unit. Cut offs of 3.8 percent porosity was used in the analysis.

Forward Plan

The forward plan, after cementing of the production casing, is to perforate the Mid Triassic T2B underbalanced with tubing conveyed perforating guns and complete a brief well test to perform pressure transient analysis to evaluate the properties of the reservoir.

The well will then be shut in. Whilst the well is already approved for Trial Production, the well is being shut in with the remainder of the Akkar East wells until such time that domestic oil process make trial production operations economically viable.

Further updates on progress with well 19 will be provided in due course.

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