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Shelton Discovers Oil in New Well at Rustamovskoye

Source: www.gulfoilandgas.com 5/6/2013, Location: Asia

Shelton Petroleum is pleased to announce that the new well at the Rustamovskoye oil field in Russia has encountered oil in a sandstone formation at the target depth. The well will now be tested.

The well was drilled to a total depth of 2,565 meters. Wireline log data show that the deviated well encountered oil in the Devonian sandstone formation from which the two previously drilled wells are producing. A five-meter interval will now be perforated and the well will be production tested during the coming weeks.

“We are pleased that we have encountered oil in three out of three wells at Rustamovskoye. Drilling has progressed according to plan and the logging indicates another successful drilling. The production tests will provide important information about the daily production volumes we can expect from this well”, says Robert Karlsson, CEO of Shelton Petroleum.

Shelton Petroleum currently produces over 500 barrels per day with the Rustamovskoye field contributing approximately 200 barrels per day. The company owns and operates three license areas forming a continuous block of over 500 square kilometers in Bashkiria, a leading Russian oil region.

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