Caspian Sunrise Plc (LON:CASP) told investors that it has now spudded the 144 well on the BNG asset in Kazakhstan.
The 144 well is the fourth well focussed on the MJF structure, where three producing wells are yielding 1,200 barrels oil per day. Around half of the MJF production comes from the 143 well, which is the most recent.
Well 144 is planned to drill down to 2,500 metres, with the target at a depth of 2,200 metres, and the drill programme is expected by the end of the second quarter. It is anticipated that the well will cost some US$1.5mln.
"Success with Well 144 will not only increase the volumes of oil for sale but would also show the MJF structure is greater in size than the existing 10km2 estimate," said Clive Carver, Caspian Sunrise executive chairman.