Kulczyk Oil Ventures Inc. (WAR:KOV) reports its well has encountered eight potential gas bearing reservoirs at total depth.

The press release is quoted as saying,

The O-14 exploratory well was drilled to a TD of 2,800 metres. The eight potential gas-bearing zones where encountered in the Middle and Lower Bashkirian portions of the well. The well was drilled to further increase the gas production capability of the Olgovskoye Field and was drilled into a separate fault block which had not previously produced gas. Production testing of the O-14 well is expected to commence in late August / early September.

For the complete press release, click here.