Aurado Completes ET-3 Well on East Tegen Prospect

Aurado Energy has completed the drilling of its ET-3 well, on the western extension of the East Tegen prospect in Kazakhstan. The well crossed the reservoir below the oil-water contact and was plugged and abandoned.

The Company considers the East Tegen field as now delineated and future wells in the East Tegen area will be aimed at producing the reservoir. Therefore the rig is now moving to its next location north-east of the East Tegen structure to test Albian and Jurassic sands that have shown potential oil-bearing indications in nearby stratigraphic wells.

Work will be performed on two of the current wells on East Tegen:

  • On the ET-1 well, a work-over will be performed in order to isolate the water zone, and the well will be re-perforated at a slightly higher level to maximize oil production.
  • On the ET-2 well, the lower Aptian zone which tested water will be isolated. A new pump will be set in the hole and the upper Albian level will be put back into production by artificial lift.

  • Moreover, as part of its overall strategy, the Company will move its exploration activity towards the remainder of the Liman Block for the second half of the year. That exploration activity is presently intended to consist of drilling six more wells aimed at exploring the potential of the shallow (Albian-Aptian) plays and of the medium-deep (Jurassic-Triassic) plays in the northern, south-eastern and south-western areas of the Liman Block.