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21:th March
15:00
Mazher Xaleqi
xaleqi.com
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News |
Gulf Keystone Spuds First Kurdistan Well
Kurdistannetwork - April 28, 2009
Gulf Keystone Petroleum Ltd (AIM: GKP) said drilling activities have now commenced in Southern Kurdistan and yesterday, the company spudded its first exploration well, Shaikan-1, on the Shaikan Block. Drilling is anticipated to take 4 to 5 months to complete.
The Shaikan Block is situated near the city of Dihok, approximately 85 kilometres north-west of Erbil and covers an area of 283 square kilometres. The Shaikan-1 well is being drilled in a proven hydrocarbon area, in reasonable proximity to other successful discovery wells.
Shaikan-1 is targeting formations with estimated in-place reservoir volumes of around 2 billion barrels of oil.
Chairman Todd Kozel commented: “The spudding of our first well in Kurdistan is perhaps one of the most significant milestones in the company's history to date. Given the multiple target horizons and the 2 billion barrels anticipated in place reservoir volumes, this is clearly an exciting moment for Gulf Keystone.”
Source: proactiveinvestors.co.uk
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