Caspian Oil & Gas Limited has commenced seismic acquisition over several prospective leads on its 100% owned West Mailisu licence in the Kyrgyz Republic.
Caspian plans to record a total of 25km seismic to confirm the structural presence of up to three opportunities in the block. The leads are located close to the Kyzyl Alma Gas Field and are on trend with the 40mmbl Mailisu IV oil well approximately 5km to the south east.
Caspian CEO, Graeme Parsons said the leads had the potential for discoveries in both the Jurassic sands and Eocene carbonates with reserves between 10-25bcf and 5-10mmbls each. “Lead 3 is considered the best opportunity and was only revealed by the 2009 seismic programme - it looks very similar to Kyzyl Alma” Mr Parsons said.
Mr Parsons added that Caspian’s rig was likely to be able to drill the lead to a depth of 3,000m. “If the lead matures to a firm prospect, drilling could commence in the 4th quarter of this year,” he said.
Whilst Caspian holds 100% of the West Mailisu licence, it is seeking farminees to share the drill expenditure at the prospect.