Immediate Release - 19 May 2008
Gulfsands Petroleum plc
Second horizontal development well commences in Khurbet East Field
London, 19th May 2008: Gulfsands Petroleum plc ("Gulfsands", the
"Group" or the "Company" - AIM: GPX), the oil and gas production,
exploration and development company with activities in Syria, Iraq,
and the U.S.A., is pleased to announce that the Company has commenced
the drilling of the second horizontal development well within the
Khurbet East Field ("KHE-6H"). The KHE-6H well will be completed and
suspended as an oil producer for connection through the Early
Production Facility ("EPF"), scheduled to commence operation by the
fourth quarter of 2008.
The KHE-6H well is designed to be drilled and completed as a
horizontal producer within the Cretaceous Massive Reservoir ("Massive
Reservoir") in the Khurbet East Field. The Company estimates that
approximately 50 days are required for the drilling, evaluation and
completion of the KHE-6H well.
Upon completion of operations on KHE-6H, the Company will have two
horizontal and three vertical producing wells available for oil
production through the Khurbet East EPF. These wells will provide
valuable production information that will be used for planning and
optimising the design and construction of the Khurbet East permanent
production facility.
This release has been approved by Jason Oden, Gulfsands Exploration
Manager, who has a Bachelor of Science degree in Geophysics with 23
years of experience in petroleum exploration and management and is
registered as a Professional Geophysicist. Mr. Oden has consented to
the inclusion of the technical information in this release in the
form and context in which it appears.
For more information please contact:
Gulfsands Petroleum (London) +44 (0)20-7182-4016
Kenneth Judge, Director of Corporate Development +44 (0)7733-001-002
Buchanan Communications Limited (London) +44 (0)20-7466-5000
Bobby Morse
Nick Melson
RBC Capital Markets (London) +44 (0)20-7653 4804
Andrew K. Smith
Sarah Wharry
---END OF MESSAGE---
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.