Drilling operations at Kercem terminated today

Drilling operations at Kercem were terminated today at a depth of 8,012 m. Originally planned to reach a total depth of 5,000 m. the well was drilled significantly deeper on account of the interesting rock formations encountered. Two intervals containing gas-shows were in fact encountered below 5,000 m. Analyses of gas samples suggest that both intervals contain good quality sulphur-free gas and that the one in the upper interval is also associated with oil.

The well was logged down to 6,500 m. in November 1998. The deeper level will be logged during this weekend and the coming week to provide a complete record of the characteristics of the rock formations of the well.

Once logging is completed, operations will enter the testing phase, whereby the well will be tested for production to assess its economic viability.