New test indicate mainly oil in the weathered crust
In addition to the test results of gas and condensate that were published 2015-06-08, the Company has done more tests, both of the pebbles that constitute large parts of the weathered crust and of a darker fluid, expected to contain oil.
The attached pictures show the pebbles and also the pure condensate compared with the darker fluid.
The presence of pebbles is of significant importance, as it gives close to an absolute permeability.
The test of the pebbles (attached protocol #154) indicate that the weathered crust contains mainly oil. The dark fluid that was tested (protocol #351) turned out to be a mix of condensate (90%) and oil (10%). The geologists assume that the large portion of condensate is caused by the very high gas pressure above the weathered crust, forcing condensate down in the weathered crust while the samples were taken. The test results of the combined liquids rule out that the oil is of other quality than a light oil with a low content of sulphur.
Based on these new test results and the increased understanding of the reservoir these have given, the Company's geologists have estimated that the weathered crust alone may contain 13-37 million metric tons (97-277 mmbbl) of recoverable light oil.
In addition have recently performed new studies of old Soviet data from well #2 shown significant quantities of light oil on 4020 m, 4080 m and 4120 m, with a density of 0.8227-0.8192.
The purpose of the drilling of the new well #7, planned for Q1 2016, is to convert the above mentioned findings to certified C1 & C2 reserves. This will possibly to a certain extent be in addition to the registration of the 5 million tons of oil equivalents already in progress, according to an earlier press release.
To give a full picture, also the already published test protocols #156 and #157 are attached.
Attachments:
Protocols number 154, 156 157 and 351 in original versions and in English translation.
For further information, please contact:
Anders Thorsell, Board Member
Mobile phone: +46 70 773 20 45
Email: anders@interfox.com
Facts about Interfox Resources AB (publ)
Interfox Resources is a Swedish exploration company with focus on exploration for oil and gas in Russia. In Russia, the company controls one combined exploration and production license in the Tomsk region of Western Siberia, the Elley-Igayskoye. The company has initiated a work program with the purpose of converting resources to reserves.
The Interfox Resources share is traded at Aktietorget under the short name IFOX.
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