Another Successful Well in Siberia for Exillon

Exillon Energy reported Tuesday that it has drilled a fifth successful well on its onshore EWS field in western Siberia.

The Russia-focused company, which also has assets in the Timan-Pechora region of the country, said the well (EWS I-571) encountered a Jurassic reservoir at 6,125 feet and confirmed 58 feet of net pay there. Due to the angled trajectory of the well bore, some 100 feet of effective net oil pay for production was exposed.

The well flowed water-free oil naturally to the surface with a test flow rate of 882 barrels per day.

Well 571 is the fifth development well on the field following the success of Exploration Well 50 in 2011 and all five wells have shown consistent results, said Exillion. They have thicker-than-expected net pays and have confirmed a "highly permeable" reservoir, while none has discovered an oil-water contact.

Oil sector analysts at FoxDavies Capital in London commented that the result of the well confirmed its belief that the company is on track to achieve target oil production of 17,000 barrels per day by the end of this year.



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