"We are extremely excited about the final test results, as the rates easily fall within our expectations for the Field," commented Bruce Falkenstein, Vice President of Exploration and Geology. "These results confirm our projections of reservoir productivity and are a very positive indication for the ultimate productive capacity of the South Alibek Field."
The SA-1 produced nearly 13,000 barrels of test oil prior to the acid treatment. This oil was transported by truck to the Company's Emba terminal and sold into the local market. The oil from SA-1 will continue to be sold under this arrangement until the central processing facility for the Field is completed in early 2004. After this facility is completed and the volumes produced from the Field increase, the Company expects to sell its oil by pipeline into international markets.
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