Tethys: Saiwan Well Encounters Oil

The Saiwan East-4 well on Block 4 onshore the Sultanate of Oman has successfully been drilled and preliminary results evaluated. The well was drilled 2.9 kilometers to the southeast of the Saiwan East-3 well to a total depth of 2,463 meters. Several oil bearing layers were encountered including the Khufai limestone formation from which 78 meters of core was extracted. Above the Khufai formation oil was also encountered in the Buah and Miqrat formations. Exploration objectives below the Khufai were drilled without any significant oil shows.

As yet the properties and quality of the oils encountered in the various layers have not been ascertained but the results are sufficiently encouraging to warrant production tests that will be carried out later this year using a smaller rig.

The current rig has been moved to the Farha South location on Block 3 to drill the well FS-4 which is being drilled as a production well close to FS-3 that was drilled last year.

Tethys has a 30 percent interest in Blocks 3 and 4. Partners are Mitsui E&P Middle East B.V. with 20 percent and the operator CC Energy Development S.A.L. (Oman branch) holding the remaining 50 percent.