On November 18, 2005, at the Chumakovskaya site in the south of the Slavyansko-Temryuk petroleum zone, Rosneft-Krasnodarneftegaz, at a depth of 3,500 m., achieved a promising flow of clean, dry crude oil.

Krasnodarneftegaz started exploration works in the license area, to the north of which lies the Sladkovsko-Morozovsky block, at the start of this year. This is a completely new section with an area of some 800 km.

The previous day, the Chumakovskaya well obtained a conclusion from the geophysical services on the presence of oil-saturated sandstone stratum. The results of tests conducted last Friday confirmed this forecast: a stable oil flow was obtained with an anticipated flow rate of up to 450 tons a day at a reservoir pressure of approximately 600 atm. The well’s potential productivity will soon be determined and reserves calculated.

Representatives of Krasnodarneftegaz are confident that the Chumakovskaya site will become a springboard for future successful exploration works in the Slavyansko-Temryuk license area. Oil reserves comprise 6.3 million tons of oil, with 3.5 million tons produced.