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Further Triassic Discoveries
Further Triassic Discoveries.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n RNS Number : 8713C Gulf Keystone Petroleum Ltd 23 November 2009 \n \nNot for release, publication or distribution in or into 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\n23 November 2009\n\nGulf Keystone Petroleum Ltd.\n(\"Gulf Keystone\" or \"the Company\")\n\nFurther Triassic Discoveries\nFinal TD (Total Depth) of Shaikan-1 Exploration Well\n\n\nGulf Keystone Petroleum Ltd. (AIM: GKP, ADR:GFKSY ) today announces an additional Triassic formation discovery in the Shaikan-1 well in Kurdistan. \n\nTriassic Results\n\nThis most recent Triassic discovery flowed at 10,000 barrels of oil equivalent (boe) per day. This results in an aggregate actual test rate of 20,000 boe per day from the Jurassic and Triassic tests done thus far in Shaikan-1.\n\nThe Shaikan-1 well reached total depth (TD) at 2950 meters. Gulf Keystone then conducted its second test in the Triassic (the first Triassic test flowed 2000 bopd and 2 million scf of gas). This second Triassic test (2582m to 2849m) produced 6000 bopd of 53 to 55 degree API oil and 21 mmscf/day of gas or 10,000 boe per day.\n\nThe first Triassic test was severely limited by surface restrictions and down hole tool problems. Internal engineering analysis of the test data indicates that the first Triassic zone could have flowed at rates up to 14,000 boe per day.\n\nThis gives the Triassic section alone, potential aggregate rates of about 24,000 boe per day.\n\nThe final TD of 2950 meters was determined by the fact that Gulf Keystone encountered a zone of very active oil and gas inflow immediately below a sealing layer at 2940m. This zone also exhibited high bottom hole pressures, well in excess of what was anticipated, and thus exceeded the design specifications of the well and the well head equipment resulting in the need to seal off this portion of the well bore. Although there is no certainty, reliable data from the nearest existing well indicates that this zone is possibly 50 or more meters thick.&nbs...