By OGJ editors
HOUSTON, Mar. 1 -- CanArgo Energy Corp., Guernsey, Channel Islands, UK, plans to appraise its 2003 Manavi M11 indicated discovery in the Kura basin 45 km east of Tbilisi, Georgia Republic, through two new wellbores this year.
Good but unmetered flow rates were observed before tubing collapsed, and M11 may be one of the most significant recent oil discoveries in the southern Caucasus, CanArgo said. The well found 34.4° gravity oil and cut more than 490 ft of hydrocarbon-bearing Cretaceous limestone reservoir topped at 14,265 ft.
Regional outcrop studies indicate this reservoir unit to be more than 1,000 ft thick, and no oil-water contact was indicated in the well.
The M11Z sidetrack, now at 12,461 ft, is to be tailed into Cretaceous using an underbalanced coiled tubing drilling unit at midyear.
CanArgo also plans to drill the M12 appraisal well 4 km west of M11.
