CanArgo sidetracks Georgian wildcat, drills ahead at another

CanArgo Energy Corp., London, plans to sidetrack its first hole in a Georgian exploration program testing Cretaceous gas prospects.


By the OGJ Online Staff

HOUSTON, Sept. 13 -- CanArgo Energy Corp., London, plans to sidetrack its first hole in a Georgian exploration program testing Cretaceous gas prospects.

The N100 experienced mechanical problems at 4,040 m, above the target depth. Because of the sidetrack, the hole is unlikely to be completed before late November.

The M11, the second of three holes CanArgo plans, was drilling at 2,400 m toward the Cretaceous at 4,500 m, but secondary objectives include the shallower Eocene, Oligocene, and Sarmatian.

AES Corp., Arlington, Va., is a partner in the projects.

On a separate license in Georgia, CanArgo and partners plans to spud a wildcat on the Norio block in October. Goal is a large prospect in the Eocene sequence, just north of Samgori oil field.

CanArgo is an independent exploration and production company operating in primarily in Georgia and Ukraine.

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