Kazakhstan
By OGJ editors
HOUSTON, May 2 -- Arawak Energy Ltd., Jersey, Channel Islands, acquired from a Kazakh company a 100% interest in the Tamdykol exploration block in the Precaspian basin of western Kazakhstan.
The block is prospective for shallow suprasalt Jurassic and Triassic oil reservoirs, similar to those Arawak is exploiting in Akzhar and Besbolek fields, and deeper Permo-Triassic oil reservoirs trapped by salt overhangs. Oil shows were first detected at surface near the Lake Tamdykol salt flats in 1912.
Arawak in 2008 plans to shoot 300 km of 2D and 50 sq km of 3D seismic to identify well locations for drilling in the first half of 2009.
The acquisition costs and associated capital program in the exploration phase are expected to total $10 million.
Tamdykol is in the Emba oil and gas province 260 km southwest of Aktobe in Aktyubinsk oblast. Block size is 67,700 acres. The contract runs until Jan. 20, 2010, and the evaluation period may be extended.
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