Big Sky Energy Finds Oil on Karatal Block in Kazakhstan

Atyrau, Karatal, Dauletaly Blocks
(Click to Enlarge)
Big Sky Energy Corporation's subsidiary KoZhaN LLP has completed Well No. 30, its first exploration well on the Karatal Block, located on the northern shore of the Caspian Sea, Western Kazakhstan.

This well was perforated from 328m to 333m in the Lower Cretaceous Aptian Formation and was placed on pump at a stabilized rate of 70 bopd of 22 degrees API sweet crude with no water production. This zone tested at high water cuts when off-set Well No. 5 and Well No. 9 were re-entered and perforated earlier this year.

Based on the performance of Well No. 30, Well No. 5 was re-entered, cement squeezed, and perforated in the Aptian Formation and placed on pump at 55 bopd of clean oil. As a result, a service rig has been mobilized to perform a similar cement squeeze and re-perforation at Well No. 9. The Company intends to drill an additional ten wells to exploit this Aptian pool.

The Company has mobilized a rig to drill Well No. 34, its second exploration well for the Karatal Block. This well will be drilled to a total depth of 1,800m to test the Jurassic and Triassic formations. The Company anticipates spudding this well in May 2006.

"We are pleased with the results of Well No. 30, our first exploration well for the Karatal Block, and the confirmation of oil in the Aptian zone at off-setting locations," stated Mr. Al Sehsuvaroglu, the Company's President and CEO. "We have clearly demonstrated the presence of commercial oil at shallow horizons in this block and are encouraged by the prospect of oil at the lower Jurassic and Triassic zones which our second exploration well is anticipated to confirm."

Big Sky Energy Corporation is a US junior oil and gas company looking to develop assets in the world's most prolific basins in order to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Kazakhstan's renowned pre-Caspian Basin.


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