Tethys Sees First Success in 2014 Gas Drilling Program

Central Asia-focused Tethys Petroleum reported Friday that it has drilled the first successful gas well of its 2014 drilling campaign.

Analysis of data from the AKK17 well, on the Kyzyloi and Akkulka development in Kazakhstan, indicates it to be similar to the AKK15 well that tested gas at a stable rate of approximately seven million cubic feet per day, Tethys said. The well was drilled to depth of 2,142 feet, some 1.4 miles northeast of the AKK15 well.

AKK17 found a 13.1-foot interval of gas-bearing Tasaran sand with an average porosity of 31 percent. Tethys said this compares to AKK15 well that also encountered a 13.1-foot gas-bearing interval of similar quality.

Tethys said the AKK17 well will be flowed as part of a testing program to be carried out after further wells have been drilled. The firm's drilling rig has now been moved to the next drilling location, AKK18, where drilling is expected to begin within the next week.

Tethys Chief Operating Officer Graham Wall commented in a company statement:

"The success of the AKK17 well once again shows that our geological model and geophysical interpretation of these sandstones is robust. This well will contribute significantly to our planned increased gas production and we are pushing forward with the rest of the program." 

Tethys' current shallow gas-program includes the drilling of up to 10 new exploration wells. Tethys is currently producing 9.2 million cubic feet of gas per day from Kyzloi and Akkulka, while it is also producing 3,000 barrels per day from its Doris oilfield.

The firm also reported that, so far, no commercial flow of hydrocarbons has been achieved from its AKD08 (Doto) well, where testing is ongoing, while fracture stimulation work is continuing on its KBD01 well.

Analysts at London-based investment bank First Energy described the results reported from Tethys' wells as "mixed".



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