Drilling in Kercem to reach final phase next week

Drilling at Kercem today reached the depth of 7,600 m. The drilling bit is presently being changed for the fortieth and last time to take the well to its final depth early next week, when drilling is expected to end.

The well will then be logged from 6500 m to total depth to establish the characteristics of the rock formations and the nature of the fluid contents encountered in this lower interval. A production test will be conducted immediately afterwards to determine whether hydrocarbons can be produced economically from an interval between 5,800 - 6,000 m, where the presence of significant hydrocarbons has already been established.

If the results of the analyses of the logs in the lower interval are positive, a production test will also be conducted in the lower interval.

The results of the tests are expected to be available in early February.