Petromanas Energy Inc. provided an update on the drilling of its Shpirag-2 well.

Following the sidetrack announced on February 11, 2013, the Company took a number of additional steps to mitigate instability in the lower flysch shale zone above the target carbonate reservoir. Petromanas believes these measures contributed to improved hole stability and afforded a period of solid drilling progress that saw the well reach a depth of approximately 5,275 metres in the upper carbonate zone.

Subsequently, the bit became stuck and additional hole instability was experienced. During drilling, and prior to the loss of circulation, the Company observed indications of the presence of oil and gas in the drilling cuttings from the upper carbonate.

On this basis, the Company is sidetracking the well at a depth of approximately 4,810 metres. After the well re-enters the upper carbonate section, the Company intends to set casing from the previous casing depth of approximately 4,750 metres to put the lower zone of unstable flysch shale behind pipe.

Tags: Petromanas Energy Inc.