NTI Resources - SOTAMO made third discovery in Mongolia.CALGARY, Alberta--(BUSINESS WIRE)--April 2, 1997--NTI (Alberta Stock Exchange Alberta Stock Exchange
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NTI Nunavut Tunngavik Incorporated .) NTI Resources Limited (NTI-ASE, the "Company") is pleased to announce today that another oil discovery has been made in NTI's Mongolian venture. SOCO SOCO Scenes of Crime Officer (UK law enforcement evidence gatherer)
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SOCO Standards Of Conduct Office (DoD) Tamtsag Mongolia, Inc. ("SOTAMO") in which NTI is a 42.64 percent shareholder, has completed the drilling of the SOTAMO 21-2 well to a total depth of 2,450 meters (8,038 feet). The well is located in Contract Area XXI, approximately 95 miles east of the first discovery well (SOTAMO 19-2) in Contract Area XIX, and is the first of a four well 1997 drilling program. Three zones were tested in the well, two of which produced oil.
Oil was encountered in the Lower Cretaceous and Upper Jurassic formations between the depths of 1,650 meters (5,412 feet) and 2,032 meters (6,665 feet). Four conventional diamond cores and side wall cores were taken within the oil show intervals. Three drillstem tests (DST (1) (DeSTination) Contrast with SRC, which is an abbreviation of "source."
(2) (Digital Signal Trust Company, Salt Lake City, UT, www.digsigtrust.com) An organization that sets up and manages PKI systems for companies and industry groups. ) were conducted. The first of these, at 2,011.4 meters (6,597 feet) to 2,031.5 meters (6,663 feet) recovered load water and filtrate filtrate /fil·trate/ (fil´trat) a liquid or gas that has passed through a filter.
To put or go through a filter.
n. , but no oil. The second DST,from 1,869 meters (6,130 feet) to 1,889 meters (6,196 feet) recovered paraffinic oil. This is the first oil discovered in this stratigraphic stra·tig·ra·phy
The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks.
strat interval within the Tamtsag Basin. The third DST, from 1,652 meters (5,419 feet) to 1,680 meters (5,510 feet) also recovered paraffinic oil. This interval is stratigraphically equivalent to the productive interval in the SOTAMO 21-1 well, located approximately 1.9 miles to the north-northeast on a separate geological feature. Analysis and evaluation of the test data is currently underway.
The Company is very encouraged that three of the five wells drilled to date in Mongolia have found oil, especially in light of the fact that the seismic program of SOTAMO has covered only 15 percent of the more than 10 million acres controlled by SOTAMO. NTI expects that continuing exploration program in 1997 and future development program will further confirm that the Tamtsag Basin of Mongolia will be a major producing province.
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