Kulczyk completes drilling first well in Brunei's onshore Block M since 1988

Kulczyk Oil Ventures has drilled its Mawar-1 exploration well in Brunei Darussalam's onshore Block M to a measured total depth to become the first well to be drilled on the block since 1988.

Tap Oil, Kulczyk's partner in the project, said today that this is the first of a minimum of two wells that will be drilled on Block M during 2010. It said that the well has penetrated its targeted reservoirs and has reached it total measured depth of 1,292 meters (4,240 ft). Preliminary drilling and log data indicate the presence of hydrocarbons in the well which will be further evaluated over the next few days. Current operations on the rig are proceeding with the electric wireline logging program. The well was drilled with the MB Century Rig 104.

Tap's CEO, Peter Stickland, said Mawar-1 reached the planned total depth ahead of schedule and penetrated all of the planned targets. "Following evaluation of the log data a decision will be reached on the well potential," he said.

The partners in Brunei Block M and in the Mawar-1 well are Kulczyk Oil Ventures Borneo, the operator with 36% interest; Tap Energy (Borneo) with 39%; China Sino Oil with 21%; and Jana Corporation with the remaining 4%.