Condor discovers oil at Kiyaktysai
Wednesday, Feb 06, 2013Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to announce an oil discovery on the Kiyaktysai KN-E-201 well at the Zharkamys West 1 Territory ("Zharkamys") in Kazakhstan.
KN-E-201 encountered a 136 meter stacked sand - shale interval while drilling to an intermediate casing setting depth of 1,408 meters. Based on wireline logs, this interval has 58 meters of net hydrocarbon pay, consisting of a continuous 41 meter light oil column and a separate 17 meter gas column. An oil-water contact has not been penetrated.
Prior to drilling ahead to a total depth of 2,000 meters, the intermediate casing string is being set to isolate the upper 58 meter pay intervals from a higher pressured oil zone encountered at 1,400 meters.
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