Located 3km southeast of the North Makeevskoye-1 well, NM-3 well is the third well drilled on the North Makeevskoye Exploration Licence.
NM-3 is a deviated well, which reached a total depth of 2,426m measured depth in 54 days.
Further analysis of the full diameter core recovered over the zone of interest, while petrophysical and fluid analysis will fully assess the prospect of the formation.
Fluid samples have been collected for laboratory analysis and the well has been cased for more tests.
The company expects the well to produce at commercial rates after stimulation.
Serinus Energy executive vice-president and COO Jock Graham said, "Aside from the fact that oil was recovered on test, which is a first for us in Ukraine, of particular importance is that the oil was recovered from the Visean reservoir, a deeper reservoir that the company has never produced from, so it potentially opens up a new play for us."
KUB-Gas, a majority-owned subsidiary in which Serinus has a 70% ownership interest, is the operator of the well.
