Max Petroleum has begun testing the ASK-1 exploration well in the Asanketken Field in Kazakhstan, successfully producing 35 degree API oil at a stable rate of 672 barrels of oil per day (“bopd”) from perforations in a Jurassic reservoir from depths of 1,281 to 1,287 meters during a 12 hour period. The well has been connected to temporary production facilities and will be placed on long-term test production. With the addition of ASK-1, the Company’s current daily production is 3,671 bopd. This daily rate is variable due to several high rate wells being subject to occasional shut-in during long-term testing.
James Jeffs, Executive Co-Chairman, commented, “We are very encouraged by the test results from ASK-1 and expect similar results from up to three additional wells to be drilled in this Jurassic fault block, including the ASK-2 well that is currently drilling. We are also pleased to have met our production target for the quarter.”
