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Wednesday, September 19, 2007

Geoterm eyes Izberbash bonanza

14 September 2007 - Upstream OnLine - Timan Oil & Gas' Geoterm unit has identified six prospective offshore targets, with an estimated resource potential of about 3 billion barrels, within Izberbash licence, in Block 2 in the Caspian Sea. The estimate was filed with the State Register of Natural Resources under the Russian State Classification system's Category C3. Category C3 resources are defined as prospective recoverable hydrocarbon volumes located within ready-to-drill prospects. Geoterm holds two offshore licences in the Russian sector of the Caspian Sea, a Thomson Financial report said.

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