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MENAFN - ProactiveInvestors - Australia - 17/12/2012

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(MENAFN - ProactiveInvestors - Australia) Sprint Energy (ASX: SPS) has mobilised essential equipment for the re-entry of an existing well in the licence 71-1 in the West Siberian Basin.

The re-entry and evaluation of the Elley-Igaiskaya 4 well will be followed by the drilling of a new well to test the commercial potential of the Palaeozoic carbonates that produced two hydrocarbon blow outs at two wells just 400 metres away.

The re-entry program has the option to either re-perforate or sidetrack across the blowout intervals, and any other zones of interest. However, the decision on which specific intervals to re-perforate or whether to sidetrack will depend on operational constraints at the time.

Sprint has already two rig options, the first an imported Russian certified American rig and the second a local Russian rig.

Both are suitable for the re-entry and evaluation operations in the existing well.

The new well will target three horizons. The first is a drape over anticlinally trapped Jurassic fluvial sandstones that are producing in almost all fields in the Nyurol Basin while the second is the weathered and brecciated unconformity zone at the top of the Palaeozoic Carbonates, producing in the nearby Urmansk Oil Field.

Sprint's last target is the fractured and folded carbonate section below the unconformity.

The unconformity zone is expected to hold in-place oil of 25.5 million barrels.

Sprint owns a 74% interest in OOO Bakcharneftegaz, which in turn owns licence 71-1.

 






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