• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Why hydrogen economics is does not work
  • 5 hours Starvation, horror in Venezuela
  • 22 mins The EU Loses The Principles On Which It Was Built
  • 7 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 2 hours Crude Price going to $62.50
  • 12 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 5 hours Chinese EV Startup Nio Files for $1.8 billion IPO
  • 17 hours Correlation does not equal causation, but they do tend to tango on occasion
  • 1 day California Solar Mandate Based on False Facts
  • 16 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 5 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 1 day WTI @ 69.33 headed for $70s - $80s end of August
  • 16 hours Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 18 hours Monsanto hit by $289 Million for cancerous weedkiller
Proactive Investors

Proactive Investors

Proactive InvestorsProactiveInvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily. We…

More Info

Trending Discussions

Tethys Petroleum's New Oil Well could Boost Kazakhstan's Reserve Estimates

Tethys Petroleum (TSE:TPL)(LSE:TPL) says that it is now ready to test its AKD07 exploration/appraisal well in Kazakhstan after it reached a total depth of 2,750 metres, potentially adding reserves to its operations in the area.

The company has now run the production liner in order to test the Jurassic carbonate zone, it said Thursday, "which appears to be oil-bearing from the drilling and wireline log results".

The oil and gas explorer further said the results of the total depth logging confirm those of the previous wireline logging, indicating potential oil in the Jurassic zone some 30 metres deeper than previous lowest known oil found in the area.

The interval is to be production tested using a "staged approach", the company said, with a positive test to potentially result in a significant upgrade in the reserves in the Doris oil field area, and also providing further appraisal targets at this level.

In April of this year, the company released the updated prospective resource report for Tethys’ Kazakhstan assets, prepared by Gustavson Associates, which estimated gross unrisked recoverable mean prospective oil resources of 1.23 billion barrels of oil and 634.4 bcf of gas, which is 1,336 billion barrels of oil equivalent (BOE).

The AKD07 is the first appraisal/exploration well since that report to target the exploration upside and is located to the south-east of the company's producing Doris field.

The company also said today that in the remainder of the well down to total depth, there were a number of sands found with limited hydrocarbon indications that are likely too thin to contribute to commercial production.

As such, Tethys will not be testing these sands in the AKD07 well, with the initial test results for the Jurassic carbonate zone expected within the next month.

The company added that the well was drilled and completed "significantly quicker" than originally projected.

Tethys is focused on oil and gas exploration and production activities in Central Asia, with assets in the Republics of Kazakhstan, Tajikistan and Uzbekistan.

By. Deborah Bacal for Proactive Investors




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News