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Oil Search Provides Taza 1 ST1 Drilling Report

27 Dec 2012  |  17:02:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Drilling Report (Taza 1 ST1). 27 December 2012

Oil Search reported that as at 06:00 hours KRI time on 27 December, the Taza 1 ST1 well was at a depth of 3,200m and preparing to drill ahead towards the Euphrates Formation. During the week, testing of the Jeribe and Dhiban Formations continued over the interval from 3,056 to 3,200m. A stabilised flow rate of 200-250 bopd, comprising oil, gas and water, was achieved, with the proportion of oil steadily increasing to over 50% of produced liquids prior to a decision to terminate the test. Interpretation of all the test information is ongoing. The Company reported the Taza prospect is located 80km southwest of the city of Sulaymaniyah. The primary objectives are Miocene and Oligocene carbonates of the Jeribe and Euphrates Formations.

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