Kulczyk Oil Ventures Inc. that the Makeevskoye-20 (M-20) well in Ukraine has commenced drilling. The well is operated by KUB-Gas LLC (KUB-Gas), a partially-owned subsidiary in which KOV has a 70% effective ownership interest.

The M-20 well has a projected total depth (TD) of 1,982 metres and is expected to take approximately 40 days to reach TD. The primary objective of the well is to evaluate the potential of the R8 zone at a depth of approximately 1,450 metres. The Makeevskoye R8 Pool was originally discovered in the Makeevskoye-19 (M-19) well drilled in the second half of 2010 and further developed by the Makeevskoye-21 (M-21) during the second quarter of 2012.

Tags: Kulczyk Oil Ventures