Update re Tawke

RNS Number : 0529O

Genel Energy PLC

16 September 2013

 

16 September 2013

Genel Energy plc

Update re Tawke

Genel Energy plc ("Genel Energy") notes that DNO International ASA ("DNO"), as operator of the Tawke Field in the Kurdistan Region of Iraq, has today issued the following statement on the field:

"DNO International ASA ("DNO International"), the Norwegian oil and gas company, announced today that it has commenced extensive testing of the Tawke-23 exploration well in the Kurdistan region of Iraq. The well is the second horizontal well drilled by the Company in the Tawke field and has encountered continuous oil shows within a 930 metre horizontal section in the main Cretaceous reservoir. The test program, expected to last up to three weeks, will focus on ten fracture zones with production potential.

The Company's first horizontal well in the field, Tawke-20, tested 8,000 barrels per day from each of ten producing intervals in the Cretaceous reservoir and is currently on stream at an average rate of 25,000 barrels per day.

Also currently drilling in Kurdistan are two other Tawke horizontal development wells, Tawke-21 and Tawke-22."

-ends-

For further information, please contact:

Genel Energy Julian Metherell, Chief Financial Officer Phil Corbett, Head of Investor Relations Andrew Benbow, Head of Public Relations

[phone]

Vigo Communications Patrick d'Ancona

[phone]

Notes to editors:

Genel Energy is an independent oil and gas exploration and production company listed on the main market of the London Stock Exchange (LSE: GENL). The company, with headquarters in London and additional offices in Ankara and Erbil, is the largest independent oil producer and the largest holder of reserves in the Kurdistan Region of Iraq and, through value-accretive acquisitions, is building a high impact exploration portfolio within the Middle East and Africa.  For further information, please refer to www.genelenergy.com

Genel Energy holds a 25% interest in the Tawke Field, DNO holds a 55% operated working interest and the Kurdistan Regional Government holds the remaining 20% interest.

 

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