Indusmin Begins Second Well in Kerch Project

Indusmin Energy has started reworking well #11 at Krasnopolanske field in the Crimea, Ukraine as part of the work program for developing the Kerch project.

The works at the field will start September 30 and will be completed by November 15th. This is the second well that the company is working on, the previous rework on the well #5 in the same field produced and open outflow of 53 thousand cubic meters per day back in January 2002. Another rework will follow the well #11 within the present year.

"We have gathered all needed equipment and materials for the job and we are currently mobilizing the rig to the site; this second rework is the consolidation of the Kerch project as a valuable enterprise. All the licensing delays are now behind us and we expect to complete our work program as planned," Carlos Munoz, President & C.E.O.