6 October 2011
KUB-Gas LLC, a Ukrainian subsidiary partially-owned by Kulczyk Oil (WSE: KOV PW, N/R) plans to start commercial production at Olgovskoye-12 (O-12) well in 4Q11, the company announced yesterday in a statement. The O-12 well has been tested at a maximum rate of 230 ths m3 per day on a 10 mm choke at total depth of 2.700 meters. Within the next few days, a drilling rig will commence drilling the O-18 well. KUB-Gas also plans to drill the NM-1, M-21, M-16 and Krutogorovskoye-5 wells within the next six months.