06-01-00 EuroGas, Inc. announces that it has completed drilling the first coal-bed methane well that has ever been drilled in Ukraine. The Taihilivske-1, which was designed to test several carboniferous intervals, reached a total depth of 830 meters (2,730 feet) on January 2, 2000. The well encountered indications of gas from both coal seams and associated sandstones; the sandstones form a possible additional conventional gas reservoir.
The well will undergo pressure and flow testing. Assuming positive results, two additional wells are slated for drilling in order to determine the commerciality of the venture. The Taihilivske-1 is located on a 150-sq km concession that covers the Volyn coalfield in Western Ukraine and is adjacent to the Polish border.
EuroGas and the Ukrainian state-owned company ZahidUkrGeologia jointly holds the concession. EuroGas holds a 70 % interest in the project.
"In drilling the first coalbed methane well ever drilled in Ukraine, EuroGas and its partner ZahidUkrGeologia, participated in an historic event in Ukrainian hydrocarbon exploration. We both look forward to testing this historic well," said Dr. Andy Andraczke, Managing Director, EuroGas Polska.

EuroGas is an international, independent energy company that controls methane gas concessions in Poland and has oil and gas exploration and development joint ventures in Canada, Poland, the Slovak Republic, Ukraine, and in the Sakha Republic.