Kulczyk Oil cases M-20 well, ahead of schedule

KUB-Gas, a 70% subsidiary of Kulczyk Oil (KOV PW), cased its M-20 well to a depth of 2,000 meters, the company announced in a press-release yesterday. Drilling logs indicated an 18.5-meter thick gas-bearing zone with an average porosity of over 25%.

Roman Dmytrenko: Kulczyk completed the M-20 drilling at least 10 days ahead of schedule. Given the significant reported increase of gas content in the drilling mud and the fact that the M-20 is part of the successful R8 production zone, we expect the company will report encouraging results from testing the M-20 within the next few weeks.