Max Petroleum strikes oil

Kazakhstan-focused Max Petroleum said it had hit an estimated 36 metres of net oil pay at its appraisal well in the Asanketken Field.

This included 27m of high quality net oil pay in five zones at depths ranging from 1,240 to 1,321 metres in the same Middle Jurassic reservoirs, the company said.

These same areas had proved productive in the first two wells drilled in the field, it added.

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"Reservoir quality appears excellent with porosities ranging from 18% to 33%," the firm said in a statement.

"In addition, there appears to be a shallower productive section in the Middle Jurassic which has not been encountered previously in the field."

These new reservoirs had bee found at depths from 1,069 to 1,090 metres, and included a total of nine metres of net oil pay in three zones with porosities ranging from 18% to 29%.

The company is now running production casing in the well, which will be completed and placed on test production.