International Sovereign Energy Corp. reported that the Koonj Well-1A in the Sukkur Exploration Block, in which the Company has a 15% working interest ("WI"), has been successfully drill-stem tested with a gas flow rate of 8.61 MMCFD (1435 BOED). The gas flow rates from the Sui Main Limestone are expected to increase significantly with acid stimulation treatment which will be carried out during the upcoming weeks. Stimulation results will be released upon availability.
The Sukkur Joint Venture (SJV) is comprised of Mari Gas Company Limited, the operator, with a 50% WI, Petroleum Exploration Limited, a Pakistani exploration and production company with a 35% WI and the Company, as mentioned above, with a 15% WI. SJV is also exploring 2 other prospects within the Sukkur Block. The drilling of Structure 'B', which covers a 4.1 sq. km area, is expected to immediately follow the completion of the first well. Both prospects are within 5 km from a main gas pipeline so that a discovery can be brought on stream on a fast track basis.