Kulczyk Oil Spuds Brunei Exploration Well

Kulczyk Oil Ventures has begun drilling the Markisa-1 well on block M in Brunei Darussalam.

Markisa-1 is the second well to be drilled on block M during 2010 by Kulczyk Oil and its joint venture partners.

The Markisa prospect was identified on 3D seismic data acquired by the joint venture in 2009.

Markisa-1 is being drilled as a deviated well to test a sandstone reservoir that produced oil in the 1920s and early 1930s in an adjacent fault block.

The well will also evaluate several secondary targets within the Miocene Belait Formation and is expected to intersect the main Belait thrust fault.

The well is designed to a total depth of about 1,335m and is expected to take about 28 days to drill.

The partners in Brunei block M and in the Markisa-1 well are KOV Borneo with 36%, Tap Energy (Borneo) with 39%, China Sino Oil with 21% and Jana Corporation with 4%.