The equipment is currently on its way to the targeted location and drilling will begin shortly.
The property is located in the Krasnoarmeiskome district, Saratovskoi Oblast in Russia, one of the most significant oil and gas regions in the country with advanced infrastructure and more than 60 years of oil and gas production history. Saratov lies in the European part of Russia and borders Kazakhstan, the largest oil producing country in Central Asia. The property covers an expansive area of about 250 square kilometers.
Continuing 3D seismic data collection and analysis of the property is scheduled for 2010 and will be running concurrently with the drilling program. Several additional high potential drill targets have already been identified and will be further defined and evaluated for feasibility during the next phase of work on the property. The license is within a highly prospective region with existing oil production on adjacent licenses and the super-giant THK-BP gas field.
