Tevet-2 Well Shows Less Than Expected

The Stena Tay drilled the Tevét-2 well to a depth of 2,785 meters. Wireline logs, including fluid sampling and downhole pressure measurements, were acquired over the Miocene appraisal objective, where oil and gas was discovered in the Tevét-1 well. A preliminary evaluation of these data and data acquired while drilling has established that the well intersected a gross gas interval of approximately 1.5 meters above a gross oil interval of approximately 37 meters.

While the hydrocarbon sands are of a similar thickness to those discovered in the Tevét-1 well, the amount of reservoir sand is less than expected. Further studies will be required to determine the significance of the Tevét-2 result.

At midnight on September 26, 2005, preparations were underway to drill to the next casing point. The well will then target a deeper exploration prospect. The planned total depth of the well is approximately 3,965 meters.

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