Skyland Petroleum discovers gas in high potential prospect in Georgia

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Image credit: www.skylandpetroleum.com

Oil and gas exploration and production company Skyland Petroleum announced that testing of the Kumisi #2 Well in Georgia has resulted in gas flow with good pressure from the Lower Eocene interval.

Image credit: www.skylandpetroleum.com
Image credit: www.skylandpetroleum.com

The Kumisi #2 Well – which is located some 10 kilometres from Georgia’s capital Tbilisi – was drilled for targets in the Eocene sequences and, based on the independent resource evaluation carried out by Gustavson Associates in December 2015, was assessed to have a:

  • Best estimate level of 319 billion cubic feet (Bcf);
  • Low estimate level of 146 Bcf; and
  • High estimate level of 600 Bcf of unrisked prospective resources present.

The ASX listed company said the presence of gas in the Lower Eocene interval (which was also found to be gas bearing in the previous well) has significantly de-risked this prospect and gas produced to surface during the testing programme proved the presence of gas in the licence area, even though no precise flow rate could be measured.

“We are very encouraged by the recovery of gas from this well. Although further work will be required to establish the full potential, given the location of the well and adjacent infrastructure, any commercial development of gas within the licence area should be relatively simple,” said Skyland Chief Operating Officer Mark Sarssam.

Adertisement

“Our discussions with the operator continue and meanwhile this stage of testing has been completed.”