Altinex: Maeen-1 Drilling Stopped Before Reaching Planned Depth

EnCana International (Oman) Ltd has as operator for the EPSA on Oman Block 3&4, where Altinex Oil holds a 50% interest, stopped the drilling of the exploration well Maeen-1 located in the southern part of Oman Block 4 prior to reaching planned TD. The well reached a TD at 2,427 meters whereas the planned TD was at 3,641 meters.

The Maeen-1 well suffered severe drilling problems, which resulted in a re-spud and eventually the decision to TD the well prior to having reached the primary target in the well. It is a disappointment that the well didn't reach the planned TD, but Altinex Oil will utilize the information and results from the two wells drilled during the campaign to evaluate the way forward as well as the remaining potential of the Oman Block 3&4.

"Unfortunately the Maeen well experienced serious technical problems and had to be finished before planned depth," said Altinex CEO Olaf I. Ellingsen. "This does not change our views that Blocks 3&4 in Oman are two very interesting exploration blocks."

The Maeen-1 well was drilled with the drilling unit Deutag T80. The drilling unit will now be demobilized.

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