Kulczyk pay day in Ukraine

Pay zones: Kulczyk drilling rig in Ukraine

KULCZYK OIL VENTURES

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Steve Marshall

 19 June 2012 12:42 GMT

Polish explorer Kulczyk Oil Ventures has found potential pay zones with the first exploration well on its North Makeevskoye licence in Ukraine.

Results from the North Makeevskoye -1 probe have indicated four potential hydrocarbon-bearing zones, after it was drilled to a total depth of 2500 metres, and production testing is expected to take place early in the third quarter, the company said in a statement.

The prospects were earlier estimated by RPS Energy to hold prospective resources of 43.18 billion cubic feet.

Kulczyk is also processing 225 square kilometres of fresh 3D seismic data acquired over much of the licence area earlier this year that will be used to identify additional drilling targets.

It is one…

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