Vast Exploration (TSX-V: VST) has issued a progress update on the drilling of its Qara Dagh -1 exploration well, and announced the appointment of General John P. Abizaid to the Advisory Board of the Company.
The Qara Dagh Well was spud on 12 May 2010 with a planned total depth of 3,600 to 4,000 meters. As previously reported, the well has encountered a thick Aliiji section with strong indications of hydrocarbons. Petrophysical analysis on this section confirms a possible 64 meter net pay which is expected to be further tested upon completion of drilling operations.
The well is currently drilling ahead at approximately 2,200 meters after successfully setting the 13 3/8 inch intermediate casing string at 1,650 meters. Currently the well is expected to be completed at the end of October or first half of November 2010
Mr. Ahmed Said, President & CEO, stated “The drilling program is moving ahead steadily without encountering any major operational issues. The presence of hydrocarbons in the tertiary section could provide a significant resource and is a positive indication for underlying primary targets”.
Additionally, the Company is pleased to welcome Retired General John P. Abizaid to the Advisory Board. General Abizaid retired in 2007 with thirty four years of service. He was one of the longest serving commanders of the United States Central Command, with responsibility for an area spanning 27 countries in the Middle East, Southwest Asia, and the Horn of Africa. He studied at West Point, the University of Jordan in Amman, holds a master’s degree in Middle Eastern Studies from Harvard University, and as such, is widely considered to be an expert in the field of Middle Eastern affairs. He is a member of the Council on Foreign Relations and the International Institute for Strategic Studies.
“Vast is very pleased to have such a highly regarded individual join our Advisory Board,” stated Mr. Said, “His contacts and expertise in the Middle East will be invaluable to the Company as we move forward”.
The Company also announces the resignation of Mr. Greg Cameron, Vice President Corporate Development effective August 31, 2010. The company would like to thank Greg for his contribution and wish him well in his future endeavors.