PrimeGen Energy Corp. announces the initial production for the Kochmesskoye # 3 well at Timan-Pechora, Russia. The well commenced commercial oil production on August 8, 2009, and the Company has received production results for the first 7 days. Total oil produced and sold was 7,980 barrels with an average daily production rate of 1,140 barrels per day.
The Kochmesskoye well is the third of a multi-well program drilled at Timan-Pechora by PrimeGen. The 2009-10-development program calls for the drilling of a minimum of 30 wells to develop the field. When fully developed, the 30 wells could yield a daily production rate at Timan-Pechora of 35,000 barrels per day.