Big Sky Announces the Results of its Well No. 10 Test Program, Morskoe Field, Kazakhstan.CALGARY, Alberta -- Big Sky Energy Corporation, (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BSKO) (the "Company") announced today that it has perforated and flowed on test two oil zones encountered at its Well No. 10 in the Morskoe Field, Western Kazakhstan. The lower Albian formation was perforated from 1,248 to 1,263 m KB and flowed 3,165 bopd at a flowing wellhead well·head n. 1. The source of a well or stream. 2. A principal source; a fountainhead. 3. The structure built over a well. wellhead Noun 1. pressure of 175 psig. The upper Aptian formation was perforated from 1,170.5 to 1,176.5 m KB, co-mingled with the lower Albian formation, and flowed at a rate of 3,465 bopd of 20 degrees API sweet crude at a flowing wellhead pressure of 250 psig and a gas oil ratio When oil is brought to surface conditions it is usual for some gas to come out of solution. The gas/oil ratio (GOR) is the ratio of the volume of gas that comes out of solution, to the volume of oil. of 197 scf/bbl following a nine hour test period. Due to the well's test equipment configuration, a lower wellhead flowing pressure was not attainable, and as a result higher flow rates were not attempted. "Based on these exceptional flow rates, we have commenced the tie-in of this well, which we anticipate will be on production within the next 60 to 90 days, subject to obtaining the relevant permits from the Kazakh government," stated Mr. Al Sehsuvaroglu, the Company's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "In addition, we have mobilized Sun Drilling, our drilling contractor, and commissioned an off-set well designated as Well No. 11. This well will rig up rig up Verb to set up or build temporarily: they rigged up a loudspeaker system Verb 1. rig up - erect or construct, especially as a temporary measure; "Can he rig up a P.A. starting June 15 and is anticipated to spud within 30 days. Based on the success of this well, we will immediately drill Well No. 12 for this pool." Mr. Sehsuvaroglu added "We see several similar exploration targets in the Morskoe field, and as a result, intend to drill an additional nine exploration wells after the completion of a 3D seismic program planned for the fourth quarter of this year." Big Sky Energy Corporation is an international oil and gas company, looking to develop assets in the world's most prolific basins in order to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Kazakhstan's renowned pre-Caspian basin. Note: The information contained in this press release contains forward looking statements which are based on the current expectations of the management of Big Sky Energy Corporation only, and actual results may differ materially. For a more detailed discussion of risks and other factors related to Big Sky Energy Corporation, please refer to its 10-KSB and 10 QSB QSB Fading QSB Qualified Small Business (IRS category) QSB Queen Street Backpackers (Auckland, New Zealand) QSB Quality System Basics QSB Qualified Supplemental Benefit QSB Quantum Singleton Bound reports filed with the U.S. Securities and Exchange Commission. Big Sky Energy Corporation (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :BSKO) |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion