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Ukraine – First Successful Fracture Stimulation Yields 2.3 MMcf/d
Kulczyk Oil Ventures Inc. (“Kulczyk Oil”, “KOV” or the “Company”), is pleased to announce the successful completion of the first reservoir stimulation using western hydraulic fracturing technology (“frac’ing”). The frac was undertaken by KUB-Gas LLC (“KUB-Gas”), a partially-owned indirect subsidiary of KOV, on the R30c zone in the Ologovskoye-6 (“O-6”) well. After being frac’d, the O-6 well flowed gas at a rate of 2.3 million cubic feet per day (“MMcf/d”) through an 8mm choke, from a previously non-commercial zone. The O-6 well was originally drilled by KUB-Gas in 2008 to a total depth (“TD”) of 2,530 metres.

Kulczyk Oil Ventures - Ukraine Fracture Stimulation Program
Kulczyk Oil Ventures Inc. (“Kulczyk Oil”, “KOV” or the “Company”), is pleased to announce that KUB-Gas LLC (“KUB-Gas”), a partially-owned indirect subsidiary of KOV, will initiate a reservoir stimulation program using hydraulic fracturing technology (“frac'ing”) in late October.