Business
Drilling Operations Shaikan-2
Drilling Operations Shaikan-2.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n RNS Number : 1440X Gulf Keystone Petroleum Ltd 01 December 2010 \n \n\nNot for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.\n \n \n01 December 2010\n \n \nGulf Keystone Petroleum Ltd. (AIM: GKP)\n(\"Gulf Keystone\" or \"the Company\")\n \nKurdistan Operational Update:\nCommencement of Drilling Operations on the Shaikan-2 Appraisal Well\n \nGulf Keystone announces the commencement of drilling operations on its Shaikan-2 appraisal well, on December 1, 2010. This is the first deep appraisal well to be drilled on the Company's substantial Shaikan oil discovery. Gulf Keystone has an effective 75 percent working interest in the Block and is partnered with the MOL subsidiary, Kalegran, which has 20 percent and Texas Keystone International has the remaining 5 percent. \n \nThe well design for Shaikan-2 has been modified to drill through the geopressured sections of the Triassic age rocks. This high pressure interval forced the cessation of drilling on Shaikan-1, when the well experienced the inflow of significant volumes of oil and gas from a section of the middle Triassic. The Shaikan-2 well is designed to drill through the Cretaceous, Jurassic and the Triassic, to a planned total depth in the Permian, depending on well results, of 5,000 meters. Drilling and testing is expected to take six months.\n \nJohn Gerstenlauer, Gulf Keystone's Chief Operating Officer commented:\n \n \"We are very excited to finally be spudding our first deep appraisal well on the Shaikan structure. In the success case, we hope for, as a minimum, a significant increase in our current P90 volume of 1.9 billion barrels of oil in place, thus narrowing the possible range of oil in place numbers. In the upside case, we would, of course, also hope for a further upward movement of our P10 volume which is currently independently estimated at 7.4 billion barrels of oil in place.\"\n \n \n \n \nEnquiries:\n \n\n\n\n\nGulf Keystone Petroleum:\n\n\n+44 (0) 20 7514 1400\n\n\n\n\nTodd Kozel, Executive Chairman\n\n\n\n\n\n\n\nEwen Ainsworth, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n...