DENVER, Sept. 13, 2012 /PRNewswire/ -- General Exploration Partners Inc. ("GEP" or the "Company") has undertaken an extensive testing program for the Atrush-2 Exploration and Appraisal well ("AT-2") drilled 3.1 kilometres east and down dip of the Atrush-1 discovery well ("AT-1") in the Kurdistan Region of Iraq.
AT-2 was spud on 23 May 2012 and successfully reached the planned total depth of 1750 meters in 49 days. The well was drilled on time and 30% under budget.
The new Barsarin-Sargelu-Alan-Mus ("BSAM") reservoir Oil Down To was found 97 metres deeper than that encountered by AT-1. Reservoir intervals within the Jurassic Adaiyah and the upper part of the Butmah formation were also oil-bearing.Three drillstem tests ("DST") were conducted over the "BSAM" reservoir of the main Jurassic discovery. A combined rate of up to 42,212 barrels of oil per day ("bopd") of oil was achieved with the use of an electrical submersible pump. The test rates were limited by surface testing equipment. None of the tests had measurable amounts of formation water. Separate DSTs were also conducted in the Butmah and Adaiyah formations. The highly fractured upper part of the Butmah tested up to a maximum of 1,450 barrels of fluid per day under nitrogen lift and towards the end of the short test was producing 9 degree API dry oil. A reservoir zone within the Adaiyah anhydrite tested up to 500 bopd of 11 degree API dry oil under nitrogen lift. Pursuant to the Production Sharing Contract, GEP has presented a notice of Discovery to the Ministry of Natural Resources of the Kurdistan Regional Government. Meanwhile in the eastern part of the Atrush block, the second phase of the 3D seismic acquisition was completed, providing GEP with 3D coverage of the entire Block. Tendering is underway for the lease of an Extended Well Test Facility ("EWTF") with an award expected shortly. Plans are for a recompleted AT-1 to be connected to the EWTF in early 2013.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts