Gulf Keystone starts drilling at Ber Bahr well

11th Oct 2011 09:02

Oil explorer Gulf Keystone's Ber Bahr-1 exploration well has begun drilling on the Ber Bahr block in the Kurdistan Region of Iraq, the company said. The well will target prospective intervals to a planned total depth of approximately 2,100 meters.The Ber Bahr-1 is the first exploration well to be drilled on the Ber Bahr block, which covers an area of 208 km² and lies to the north-west and on trend with the Shaikan and Sheikh Adi blocks operated by Gulf Keystone. Estimates predict 1.5bn barrels of oil equivalent-initially-in-place at the Ber Bahr block, in which Gulf Keystone has a 40% working interest. Chief operating officer John Gerstenlauer said: "The immediate proximity of the Ber Bahr block to our major discovery at Shaikan, as well as to Sheikh Adi, makes the Ber Bahr-1 spudding very exciting news. "Gulf Keystone's aggressive 2011/2012 exploration and appraisal programme is now being implemented across our four licences in the Kurdistan Region of Iraq with several wells still expected to spud this year. "Our ambitious plans, underpinned by the successful fund-raisings in 2010-2011, include acquisition of 3D seismic data over the Ber Bahr block."The share price fell 0.18% to 137.5p to 09:27. NR