Business
Oil Discovery on Bijeel-1 Exp
Oil Discovery on Bijeel-1 Exp.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n RNS Number : 3204I Gulf Keystone Petroleum Ltd 09 March 2010 \n \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 \n9 March 2010\n \nGulf Keystone Petroleum Ltd. (AIM: GKP)\n(\"Gulf Keystone\")\n \nOil Discovery on Bijeel-1 Exploration Well in Kurdistan\n \nGulf Keystone is pleased to announce that Kalegran Ltd., a 100% subsidiary of MOL Hungarian Oil and Gas Plc. and the operator of the Akri Bijeel block in Kurdistan, concluded a successful oil test in the Bijeel-1 exploration well in the Akri Bijeel block. Undiluted equity working interests in Akri Bijeel are currently 80% Kalegran and 20% GKPI. \n \nThe tested zone is in the upper Jurassic and flowed at rates of up to 3,200 bopd with associated gas rates of 933,000 scf/d. Oil gravity was 18 degrees API and flowing wellhead pressure was 420 psi on a 48/64\" choke.\n \nDrilling operations are still in line with previously announced plans, following completion of the full test cycle, drilling will resume from the current depth of 3831m to a final planned depth of approximately 4400m, pending actual well results.\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\n\n\nStrand Hanson Limited\n\n\n+44 (0)20 7409 3494\n\n\n\n\nSimon Raggett / Rory Murphy / James Harris\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMirabaud Securities LLP\n\n\n+44 (0)20 7878 3362\n\n\n\n\nPeter Krens\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBrunswick Group LLP\n\n\n+44 (0) 20 7404 5959 \n\n\n\n\nPatrick Handley\n\n\n\n\n\n\n\n \n \nor visit: www.gulfkeystone.com\n \nJohn Gerstenlauer, the Company's Chief Operating Officer, who has 31 years of relevant experience within the sector meets the criteria of a qualified person under the AIM note for mining, oil and gas companies and has reviewed and approved the technical information contained in this announcement. Mr. Gerstenlauer is a member of the Society of Petroleum Engineers.\n \n \n \n \n \n \n \nNotes to Editors:\n§ Gulf Ke...