Burren Suspends B060 Well on Burun Field in Turkmenistan

Burren reports initial results of its B060 exploration well on the south flank of the Burun field, and provides an update on development drilling elsewhere in the Burun field.

Well B060 was spudded in early August and after a side-track, has now reached its target depth of 4150 meters. The well encountered abnormally high formation pressures and has been temporarily suspended awaiting the arrival of special production testing equipment.

Elsewhere on the Burun field the shallow well drilling is proceeding successfully with a total of 7 wells drilled to-date providing low-cost incremental production averaging about 250 barrels oil per day per well at a cost of $250,000 per well. This together with the 4-rig workover program continues to increase field production which currently stands at 18,200 barrels oil per day gross (11,200 barrels oil per day net entitlement), representing an increase in gross production of 14% from mid-year.