Ukraine: Kulczyk gets Dneiper-Donets blocks

By OGJ editors
HOUSTON, Jan. 14
– Ukraine awarded the 70% owned subsidiary of Kulczyk Oil Ventures Inc., Calgary, the 47,073-acre North Makeevskoye exploration license in the Dnieper-Donets basin.

The license, near the company’s Makeevskoye and Olgovskoye licenses, is prospective for gas from multiple zones in the Muscovian and Bashkirian sedimentary section. The award increases KUB-Gas’s holdings to five licenses totaling 89,736 acres.

The 5-year license is 4 km east of the KUB-Gas M-19 gas discovery production tested in December 2010 at 5 MMscfd on a 10-mm choke. Gastek LLC is KOV’s 30% partner in KUB-Gas. The companies will shoot 2D seismic on North Makeevskoye in mid-2011.

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