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Gold/Mining/Energy : KPY - Carpatsky Petroleum -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (1)	1/15/1998 5:51:00 PM
From: Colin Cody	Read Replies (1) \| Respond to of 10

The following chart is a summary of activity in the Rudovsko-Krasnozasvodsky field as of January 14, 1998. Carpatsky initially has a 50 percent working interest and a 40 percent net revenue interest in the field. . -------------------------------------------------------------- PROPOSED DEPTH ON WELL TD JAN. 14 OPERATION -------------------------------------------------------------- #102 5792 meters 5792 meters Waiting on See details completion below -------------------------------------------------------------- #104 5800 meters 5252 meters Waiting on Barite -------------------------------------------------------------- #106 5150 meters 5150 meters Waiting - See details 5 - 1/2" below casing -------------------------------------------------------------- #109 5200 meters 4576 meters Drilling ahead -------------------------------------------------------------- #111 5200 meters 4393 meters Drilling ahead -------------------------------------------------------------- #100K 5500 meters 0 Waiting on orders to spud -------------------------------------------------------------- . Well No. 106 has been drilled to a total depth of 5150 meters and 5 1/2 inch casing was set and cemented through the major B-22 reservoir. A further 2,500 meters of 5 1/2 inch pipe is needed to tie it back to the surface. Electric logs indicate 117 feet (34.87 meters) of net, effective pay zone. That same zone in the adjacent offset well (No. 103) located about 2200 feet to the north, is 38.7 feet thick and initially produced at a rate of 6.8 million cubic feet per day and 120 barrels of condensate per day. In the offsetting well to the south (No. 4) that zone has 135 feet of net pay and initially produced at a rate of 12.8 million cubic feet of gas per day and 240 barrels of condensate per day. . Well No. 102 has been drilled and cased to a total depth of 5792 meters (19,002 feet) and is the deepest well to be completed in the T-3 horizon in the field. The T-3 reservoir in an adjacent well (No. 2), located about 2500 feet to the south, produced 38.8 million cubic feet of dry gas per day when tested from a 9.8 foot interval. Electric logs indicate that Carpatsky's No. 102 has 115 feet of net pay from that same reservoir. . In the Bitkov oil field, Carpatsky's second area of operations, the company has two oil wells producing 63 barrels of oil and approximately 300 mcf of associated gas per day. Two additional producing wells are temporarily shut in and are awaiting the repair of production facilities and a gas lift supply line, and two other recently perforated wells will be put on production as weather permits.