Gulf Keystone encouraged by Shaikan-1 drilling

24th Jun 2009 08:21

Gulf Keystone Petroleum, the oil and gas firm focused on Algeria and Kurdistan, has been encouraged by early drilling results from its Shaikan-1 exploration well in Kurdistan.Currently the well is drilling 17-1/2' hole at about 1100 metres towards the planned intermediate casing point at 1350 metres. Oil shows have increased significantly as the larger hole approaches the deeper portions of the pilot hole, the company said. The plans are to reach the total depth range of 3,000 to 3,500 metres during September.“Although we are at an early stage in the drilling of this well, we are encouraged by these shallow zone live oil shows and by the good progress our drilling crew is making despite some difficult geological conditions,” said Todd Kozel, executive chairman of Gulf Keystone.