- M-16: the well commenced production in late May 2013 and produced an average of 2.71 MMcf/d (1.9 MMcf/d net to Serinus) of natural gas.
- M-17: drilling commenced in November, 2013. During the second quarter of the 2014, the well was completed and tested. Logs had indicated pay in the S5 and S6 zones, and resource potential in the R30c and S7 sections. The S6 zone was placed on production in June 2014 at an average rate of 6.4 MMcf/d (4.4 MMcf/d net to Serinus). The S7 will be stimulated and M-17 will be completed as a dual producer.
- M-19: the first well drilled since the acquisition of KUB-Gas by the Company, commenced production in July 2011 at a rate of 5 MMcf/d (3.85 MMcf/d net to Serinus).
- M-20: drilling was completed in August 2012. The well commenced production in November at a rate of 6.2 MMcf/d (4.4 MMcf/d net to Serinus).
- M-21: drilling was completed in March 2012. Production commenced in August 2012 at an initial rate of 1.7 MMcf/d (1.2 MMcf/d net to Serinus).
- M-22: drilling was completed in January, 2015. The M-22 has encountered gas in six zones, two of which appear to be net pay, with the other four having resource potential. Casing has been run and cemented, and the operator, KUB-Gas is now preparing to complete, test and tie-in the well. Once testing is completed in early February, the Company anticipates that the well will be tied in within a few weeks as several flowlines were pre-built in late 2014 in advance of the drilling program. The final tie-in will be subject to the usual regulatory approvals from the Ukrainian authorities.
- O-4: after successful fracturing in October 2013, the well has been tied-in for commercial production at a rate of 3.9 MMcf/d (2.73 MMcf/d net to Serinus)
- O-5: the well flowed gas at 1.3 MMcf/d immediately after the stimulation and has been suspended pending tie-in after the upgrade of the gas processing facility.
- O-6: drilling was completed in 2008. The first well tested in Serinus' fracture stimulation program in September/October 2011, flowed gas at a rate of 2.3 MMcf/d. Production commenced in February 2012 at a rate of 1,5 MMcf/d (1 MMcf/d net to Serinus).
- O-7: the first development well to be drilled in cooperation with Serinus technical team was completed in Q4 2009. The well commenced production in November 2010 at a rate of ca. 1.5 MMscf/d (1 MMscf/d net to Serinus).
- O-8: drilling was completed in the first quarter of 2011. The second well in the fracture stimulation program, the O-8 well was tested in November 2011 and flowed gas at a rate of 1 MMcf/d. Production commenced in March 2012 at a rate of 1 MMcf/d (0,7 MMcf/d net to Serinus).
- O-9: drilling was completed in April 2011 and the well commenced production in September 2011 at a rate of 2 MMcf/d (1.4 MMcf/d net to Serinus).
- O-11: drilling commenced on April 2014. Logging has identified net pay in four zones, three of which have been established as productive. It reached its planned TD of 3,230 metres in late May. In June 2014, the well was perforated, and experienced a strong air blow, followed by gas to surface. The well was shut in for a pressure build up. No further testing will be undertaken at this time.
- O-12: drilling was completed in early September 2011 and the well commenced production in January 2012 at a rate of 4,6 MMcf/d (3.2 MMcf/d net to Serinus).
- O-14: reached TD in July 2011 and cased as a potential gas well.
- O-15: drilling commenced on March 11, 2013. In June 2013 the O-15 well tested the S5 zone at a maximum flow rate of 1.5 MMcf/d (1 MMcf/d net to Serinus). The Company is currently evaluating its optimal production strategy.
- O-18: drilling completed on 4 November 2011. Production commenced in March 2012 at a rate of 1 MMcf/d (0.7 MMcf/d net to Serinus).
- O-24: drilling work completed in October 2014, with three potential areas containing hydrocarbons discovered. The first two tests (B6 and B4b zones) were not successful, but the third test of the R-30c did flow gas at low rates. The well has been suspended, The well will be included in the Company’s upcoming stimulation program.
- NM-1: the well was drilled during the second quarter of 2012 on legacy 2D seismic data and cased to TD as a candidate for future fracking.
- NM-2: the well commenced drilling in December 2012. The well was abandoned in February, after being drilled to a depth of 3,150 metres. Wireline logs and other information obtained during the drilling operation did not indicate any prospective zones.
- NM-3: drilling commenced in June, 2013. An open hole test of the well recovered oil and gas from Visean aged rock formations underlying the North Makeevskoye Exploration Licence. The test recovered 0.5 m3 of 37° API oil and minor amounts of produced gas were flared. Fluid samples have been collected for laboratory analysis. The well has been cased to TD to allow for further testing.
- NM-4: the well was spud in June 2014, and drilled to a depth of 102 metres. Surface casing was run to 100.2 metres and cemented in place prior to suspending drilling operations.
- K-7: the well was drilled to a TD of 3,206 metres. Wireline logging of the well has indicated up to 5 potential gas zones. The well is expected to be on production after the construction of 1.7 kilometre of new pipeline.