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New discovery in the Kurdistan Region of Iraq
New discovery in the Kurdistan Region of Iraq.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \nRNS Number : 2456Y Gulf Keystone Petroleum Ltd. 20 February 2013 \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 \n \n20 February 2013\n \nGulf Keystone Petroleum Ltd. (AIM: GKP)\n(\"Gulf Keystone\" or \"the Company\")\n \nNew Discovery in the Kurdistan Region of Iraq\n \nGulf Keystone notes today's update by MOL Hungarian Oil and Gas Plc., the operator of the Akri-Bijeel Block in the Kurdistan Region of Iraq (in which Gulf Keystone has a 20 per cent working interest), on its extensive exploration and appraisal programme.\n \nBakrman-1 Exploration Well Discovery\n \nBakrman-1, the first exploration well to target the Bakrman structure on the Akri-Bijeel Block, has made a new Triassic discovery. This is the second discovery on the block following the Bijell discovery made in 2010.\n \nBakrman-1 spudded in May 2012, 32 km to the north-west of the Bijell-1 discovery well. The well was drilled to a total depth of 4,100 metres in the Kurra Chine B formation in the Triassic, following which a well testing programme commenced, targeting reservoir zones in the Jurassic and Triassic. Two open hole tests and three cased hole tests have been performed to date. According to the operator, the second open hole well test performed at 3,930-4,100 metres MD (measured depth) in the Kurra Chine B formation in the Triassic resulted in calculated daily flow rates of approximately 2,616 barrels of light (32 to 35 degrees API gravity) oil per day and a gas rate of approximately 5.86 million standard cubic feet per day. The well testing programme is ongoing and is expected to be completed in April 2013.\n \nGulak-1 Exploration Well\n \nGulak-1, the fourth exploration well to be drilled on the Akri-Bijeel block and the first exploration well to target the Gulak anticline, spudded in July 2012 and has been drilled 21 km to the east from the Bijell-1 discovery well and 5 km to the south from the Bekhme-1 exploration well to a total depth of 3,641 metres in the Kurra Chine B formation in the Triassic. The well test programme, consisting of five tests, has now been complet...