Business
GRJ-2 WELL TEST
GRJ-2 WELL TEST.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n Gulf Keystone Petroleum Ld\n15 May 2007\n\n\n GULF KEYSTONE PETROLEUM LTD\n (\"Gulf Keystone\" or the \"Company\")\n\n BLOCK 126a - GRJ-2 WELL TEST\n\n\nGulf Keystone Petroleum Limited, an independent oil and gas exploration company\noperating in the Republic of Algeria in partnership with SONATRACH, announces\nthat the Company has abandoned the testing of well GRJ-2 located on Block 126a.\n\n\nWell test operation and results\n\n\nWell GRJ-2 was drilled by Gulf Keystone in late 2005. The well encountered\nencouraging hydrocarbon shows in Cenomanian / Turonian carbonates, the same\nreservoir interval that is currently producing in the GKN-1 well. Moreover,\nboth core and image log data acquired over these prospective reservoir intervals\nindicated both the presence of fractures and hydrocarbons. The well was not\ntested at the time of drilling due to the lack of availability of suitable test\nequipment within Algeria.\n\n\nDuring recent operations, Gulf Keystone perforated two potential reservoir zones\nover the two intervals: 2291.5 -2337 m and 2221-2276.5 m measured depth. Over\neach interval the Company performed an injectivity and step rate test followed\nby matrix acidisation (mini frac). The aim of the test program was to connect\nthe fracture and / or the matrix permeability in the surrounding reservoir, and\nthereby access moveable hydrocarbons.\n\n\nWhilst operations were performed successfully, no hydrocarbons flowed into the\nwellbore under test. The well is therefore presently being plugged and\nabandoned.\n\n\nThe information contained in this release has been reviewed and approved by Mr\nPeter Dempsey (B,Sc, M.Sc), VP Engineering for Gulf Keystone, who has 24 years\nexperience as a petroleum / reservoir engineer in the oil industry.\n\n\nTodd Kozel, CEO of Gulf Keystone said:\n\n\n\"We are disappointed that we were not able to establish connectivity with\nmoveable hydrocarbons in this well. It is unlikely that we will conduct any\nfurther operations on the GRJ structure. However, we will, as part of our\noverall technical appraisal of the northern blocks, review all geological,\ngeophysical and engineering data collected during this operation to establish\nthe likely reasons for the lack of commercial flow from this particular well.\"\n\n\nEquities in Block 126a are:\n\nGulf Keystone Petroleum LTD. 60% (Operator)...