Alex Cranberg, the Chairman of Aspect Holdings, commented, "We are excited about the results from the AT-2 Exploration and Appraisal well. The well accomplished three important goals – discovery of additional resource potential in the Butmah and Adaiyah; lowering the Oil Down To 97 metres further in the BSAM, without encountering an oil/water contact; and demonstration of the significant production capability of the BSAM reservoir. Operationally, our team did a great job getting the well down on time and under budget. We look forward to continuing our work with the Kurdistan Regional Government to appraise and develop this important discovery."The Atrush Block is operated by the joint-venture company General Exploration Partners Inc. ("GEP") which holds an 80% working interest in the Block. Aspect Holdings, LLC through its Aspect Energy International LLC subsidiary has a 66.5% interest and ShaMaran Petroleum Corp. through its wholly owned subsidiary, ShaMaran Ventures BV, holds a 33.5% interest in GEP. Marathon Oil KDV B.V., a wholly owned subsidiary of Marathon Oil Corporation (NYSE: MRO), holds a 20 percent interest in the block.
Atrush-2 Well Flows 42,212 Bopd
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