Oryx Updates on Kurdistan Operations

The ZEG-1 well is targeting oil potential in the Cretaceous, Jurassic and Triassic. NSAI estimates as of March 31, 2013 that the Zey Gawra prospect contains 23 MMbbl of unrisked gross (100%) prospective resources (risked: 9 MMbbl).

  • Ain Al Safra Prospect:

Progress of Ain Al Safra Exploration Well (AAS-1)As previously reported, the Sakson Hilong 10 rig spudded an exploration well targeting the Ain Al Safra prospect in the Hawler license area in early June. The AAS-1 well is targeting oil potential in the Cretaceous, Jurassic and Triassic. NSAI estimates as of March 31, 2013 that the Ain Al Safra prospect contains 225 MMbbl of unrisked gross (100%) prospective resources (risked: 44 MMbbl).The AAS-1 well has reached depth of approximately 3,000 metres in the lowermost Jurassic.

The AAS-1 was originally scheduled to drill to a total depth of 3,700 metres in Q4 2013. Based on logging information and observations during drilling the Cretaceous reservoir has been deemed wet. However, in the lower Jurassic reservoirs, free oil on the shakers and sizable losses of drilling fluids have been observed with significant quantities of oil flowing to surface while drilling. Based on these observations during drilling and logging information, testing of at least three zones in the lower Jurassic is planned.

Very heavy losses of drilling fluids were experienced at current total depth, which is symptomatic of a significant permeable fracture system. The losses and related absence of drilling fluids caused the bottom hole assembly (BHA) to become stuck. Attempts to free the BHA to date have been unsuccessful. The Corporation now plans to secure the well and test the lower Jurassic reservoirs. Further drilling into the Triassic will be dependent on the testing of the lower Jurassic reservoirs. The lower Jurassic testing is expected to commence in the next two weeks and conclude in early Q4.

Sindi Amedi License Area

  • Conclusion of Seismic Acquisition and Analysis and Relinquishment of License

A campaign targeting acquisition of approximately 145 kilometres of 2D seismic was completed in mid-August.  The seismic covered the Gara East and Tawke East prospects. Based on analysis of the recently collected seismic data and prior data, Oryx Petroleum and its partner in the license area concluded that none of the identified prospects meet acceptable risk-reward parameters and that the license area should be relinquished. The partners have fulfilled all work commitments under the Production Sharing Contract as amended earlier in 2013. Capital earmarked for Sindi Amedi will be re-deployed elsewhere in the Corporation's portfolio.

(Source: Oryx)

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