Saturn rig to drill first 2 shallow wells/Uranus rig 3 deep Preparation work for the drilling of the first two SASB development gas wells will commence immediately. The Saturn rig is available now and it is the Company’s intention to use the Saturn rig to drill the two shallow water wells (the "Saturn Project"), and the Uranus rig to drill the three deeper water wells. The Saturn Project is expected to cost US $9 Million and will take slightly over 2 months to complete.
The Saturn Project will target the two discovered unproduced gas pools Alapli and Bayhanli, both of which were drilled, mapped, and drill stem tested +7 MMcf/d gas from similar 15 metres of perforated gas reservoirs. Both discover wells had an additional 4 to 5 gas reservoirs that were not tested adding further gas potential.