Jupiter Energy to recommence drilling at J-50 exploration well in Kazakhstan
Wednesday, March 17, 2010
Jupiter Energy (ASX: JPR) has advised shareholders that the J-50 drill bit is currently being changed and that drilling is expected to recommence around 12 noon Aktau time today (3pm Western Australian time).
The J-50 exploration well in Kazakhstan had reached a depth of 2872m before tripping out.
Going forward the company expects that there will be 40-50m of interbedded carbonates and thin sands and there should continue to be some oil shows through this zone (Triassic A-).
There is then expected to be 5 - 10m of claystone before entering the Mid Triassic (the primary target).
The continued expectation is that the primary objective will be reached this week whereupon the planned program is to drill 5m, confirm the zone and then core the reservoir.
Jupiter Energy has initially focused on exploration in the Mangistau Basin in South West Kazakhstan. The Company owns a permit covering some 127 sq kms and shot 3D seismic over 95 sq km of the permit in late 2008/early 2009.
The Mangistau basin has a number of oil fields which have produced over 6 billion barrels of oil. The basin is serviced by a wide range of infrastructure (pipeline, rail and road) and Jupiter's permits are just 10km away from this infrastructure and 50km away from the strategic port of Aktau.
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