Carpathian, which anticipates that Ja3a will be completed no later than March 2004, will fund the drilling of the well and, on successful completion, Unigeo will finance the required pipeline and other infrastructure.
Ja3a is the first well to be drilled under an agreement between the companies to bring into production all natural gas fields within the boundaries of the Janovice block (4.2sqkm).
The Janovice block is located in northern Moravia, Czech Republic, and is situated some 20km south of Ostrava, a major industrial centre, and five kilometres from Carpathian's 75% owned Krásná oil field.
The Miocene Karpat sandstone reservoir is divided into two sections by a fault. The deeper section (1,030m) contains recoverable (proved and probable) gas reserves of 1,058mmcf while the shallower section (886m) contains recoverable reserves of 590mmcf.
The company currently has two producing wells in the Krásná oil field, which the Czech Government estimates to contain around 236,000 barrels of recoverable oil reserves and has produced around 27,927 barrels during testing.
