Sequa Petroleum N.V. (SPNV), today announces that it has reached total depth on the Zapadnaya – 1 well in the Aksai contract area of Western Kazakhstan. The well was spudded on 28 June 2014 and reached 5364 m true vertical depth, in the target interval.
Following acquisition and analysis of data, the well will be further evaluated to preserve options for future use. SPNV plans to acquire additional seismic data during Q1 2015 to aid in the evaluation of the well results and to further explore the key opportunities and options for the Aksai Contract area.
SPNV received the initial ministerial confirmation of an extension of the exploration contract duration to 16 July 2015, to complete the work programme. Further extensions, if any, may be subject to the results of this programme.
For further information:
Jacob Broekhuijsen, CEO
Alistair Williams, CFO
+44 (0)203 728 4450