Business
Shaikan-3 Update
Shaikan-3 Update.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 1438B Gulf Keystone Petroleum Ltd 14 February 2011 \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 \n14 February 2011\n \n \n \nKurdistan Operational Update\n \nShaikan-3 Update\n \nGulf Keystone Petroleum is pleased to announce an update on the Shaikan-3 Shallow Appraisal Well. Following completion as a Sargelu/Alan formation producer and as a result of an acid treatment, Shaikan-3 has achieved a rate of 9,800 bopd.\n \nThe stabilized flow rate was recorded on a 128/64th inch choke with a flowing tubing pressure of 264psi. The higher rate achieved by Shaikan-3, an improvement of approximately 30% on the previously reported rate of 7,480 bopd for Shaikan-1, is due to the removal of formation plugging around the well bore. Since data gathered from Shaikan-1 also indicates formation plugging a similar acid treatment will be performed on this well.\n \nBoth Shaikan-1 and Shaikan-3 are tied into the nearby extended well test facilities with a storage capacity of over 20,000 barrels. \n \nThe Company has a 75 percent working interest in the Shaikan block and is partnered with the MOL subsidiary, Kalegran, and Texas Keystone which have the remaining 20 and 5 percent working interests respectively.\n \nJohn Gerstenlauer, Gulf Keystone's Chief Operating Officer commented\n \n\"The productivity increase achieved as a result of this acid treatment once again demonstrates the robust nature of these reservoirs and bodes well for our current oil sales and future field development.\"\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\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\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\nPelham Bell Pottinger\n\n\n+44 (0) 20 7861 3232 \n\n\n\n\nMark Antelme \n\n\n\n\n\n\n\n \nor visit: www.gu...