In a statement CanArgo said, “Well maintenance activities were underway in preparation for a further horizontal wellbore from this well, to be drilled as part of the recently announced under balanced coiled tubing drilling program, when the blow-out occurred.

“Currently the well is flowing a considerable amount of oil and gas under what appears to be significant pressure [and] it is presently unclear from which interval the flow is coming. Measures to control the situation have already resulted in a reduction of the flow, and one of the world’s leading well control specialists is scheduled to arrive today to assist in capping the well,” added the firm.