PetroKamchatka Halts Drilling Ops in Russia

PetroKamchatka has ceased drilling operations at the Chernorechenskaya 1P exploration well in Kamchatka, Russia and plans to abandon the well. The well reached a total depth of 2,596 metres in basement rocks on the structure without encountering the target Snatol formation sandstones. Wireline logging operations will now be undertaken for confirmation. The Company will evaluate the well results to date and use the information to determine future drilling plans.