Groundstar Resources Operations Update

We reported yesterday on Vast Exporation‘s Qara Dagh operations in Kurdistan. Groundstar Resources (TSXV: GSA), Vast’s partner in the project, have now given their take on the situation:

Qara Dagh-1 well is drilling 12 1/4 inch hole at about 2,200 meters. The well was spud on 12 May 2010 with a planned total depth of 4,000 meters. As previously reported, the well has encountered a thick Aliiji section with strong indications of hydrocarbons.

Several reservoir quality sandstones have been penetrated. Petrophysical analysis of the sandstones has confirmed possible presence of hydrocarbons. These horizons will be further evaluated after completion of the drilling. 13 3/8 inch intermediate casing string was set at 1,650 meters on August 8, 2010. Qara Dagh-1 drilling operation is expected to be completed in November 2010.

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