Strait Oil & Gas Ltd., private UK independent, is building location for the second in a two-well exploratory program in the Rioni basin onshore west-central Georgia.
It is to drill the Namakhvani-1 well to 3,500 m as a Jurassic test on Block VIa with spud set for early to mid-February.
Namakhvani is northeast of the first well, Mukhiani-1, drilled in the second half of 2011. Reinterpreted seismic supported by vertical seismic profiling has identified new fault and stratigraphic trap potential with the possibility of a sidetrack to be drilled after more seismic is shot in the second half of 2012.
Blocks VIa and VIb total more than 6,500 sq km (OGJ Online, June 28, 2011).
Strait Oil & Gas has 40% interest in the blocks, Range Resources Ltd. has a 40% farm-in interest, and Red Emperor Resources NL has 20%. Range and Red Emperor are based in Perth.
The companies retained NTD Energy consultants to assist in promoting and developing unconventional shale plays that may exist on the licenses by identifying farmees, Range Resources said.