Condor finds oil, gas on Kazakh Precaspian block

Feb 05, 2013 12:00 AM

Condor Petroleum Inc., Calgary, said its Kiyaktysai KN-E-201 well at the Zharkamys West 1 Territory in the Precaspian basin in Kazakhstan is an oil and gas discovery, having encountered a 136-m stacked sand-shale interval while drilling to an intermediate casing depth of 1,408 m.

Based on wireline logs, the interval has 58 m of net hydrocarbon pay consisting of a continuous 41-m light oil column and a separate 17-m gas column. An oil-water contact has not been penetrated.

Intermediate casing is being set to isolate the upper 58 m of pay intervals from a higher-pressured oil zone encountered at 1,400 m prior to drilling ahead to a total depth of 2,000 m.

Condor has a 100% interest in the exploration rights to the 2,610 sq km Zharkamys Territory.

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