Message #28 From:
NewsBot Date: December 27, 2005 08:22:00 AM
BSKO News Big Sky Energy Announces Commencement of Production from its Morskoe Block, Kazakhstan
CALGARY, Alberta--(BUSINESS WIRE)--Dec. 27, 2005--Big Sky Energy Corporation (OTCBB:BSKO) (the "Company") announced today that it has commenced production from its Morskoe Block, which is located on the northeast shore of the Caspian Sea, Kazakhstan.
The Company has tied-in Wells No. 10, and No. 12 to an oil battery it has constructed at the pad from which three wells were drilled earlier this year.
Currently the Company is trucking a total of 5,400 bopd of clean oil from these two wells to an off-loading point situated in Prorva oil field 30km away. The third well, No. 11 will be brought on-line in one week when its completion and tie-in has been completed.
"We will monitor reservoir performance at these production levels in order to assess optimum economic oil recovery," stated Mr. Al Sehsuvaroglu, the Company's President and CEO. "We believe that the three wells we are putting on production will adequately exploit the oil pool from which they are producing. We have plans to work over existing wells and drill additional wells to exploit the deeper reservoirs in the Morskoe Block. Moreover I would like to announce that ZapKazNedra, a department of the Ministry of Energy and Mineral Resources has approved the Morskoe Pilot Development Program, allowing us to start implementing the initial stages toward full field development."
Big Sky Energy Corporation is a US junior oil and gas company looking to develop assets in the world's most prolific basins in order to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Kazakhstan's renowned pre-Caspian Basin.
NOTE: The information contained in this press release contains forward looking statements which are based on the current expectations of the management of Big Sky Energy Corporation only, and actual results may differ materially. For a more detailed discussion of risks and other factors related to Big Sky Energy Corporation, please refer to its Form 10-KSB and Form 10-QSB reports, as filed with the U.S. Securities and Exchange Commission.
Big Sky Energy Corporation (OTC Bulletin Board:BSKO)
