genel energy plc (GENL) Snapshot

Genel Energy plc Presents at World National Oil Companies Congress 2013, Jun-19-2013 11:50 AM. Venue: Grange St. Paul's Hotel, 10 Godliman Street, London EC4V 5AJ, United Kingdom. Speakers: Anthony B. Hayward, Chief Executive Officer and Director.

Genel Energy plc announced that it updates on Tawke-17 well. Deep Tawke-17 well tested 1,500 barrels a day of 26-28 degree API crude oil from an Upper Jurassic reservoir underlying the Tawke field in the Kurdistan Region of Iraq. Separately, the Tawke-20 well, the company's first horizontal well in the Tawke field, has flowed an average of 8,000 barrels a day from each of the first four of ten fractured corridors penetrated by the well. Testing continues on both wells. The Tawke-17 well, the deepest drilled by the company in the Tawke field, encountered several Triassic zones that proved either tight or water bearing. Two additional identified reservoir intervals in the Upper Jurassic remain to be perforated and tested.

Gulf Keystone Petroleum Limited noted the announcement by Genel Energy plc, regarding a commercial oil discovery at the Ber Bahr-1 exploration well on the Ber Bahr block in the Kurdistan Region of Iraq.  Genel Energy was operator. The Ber Bahr 1 well original TD was 3,933m in the upper Permian Chia Zairi formation. It encountered good oil shows over a c.300m interval in the Jurassic. Two drill stem tests over this interval failed to flow. The original well has now been successfully side tracked and in several tests, conducted over a period of days, achieved a sustainable flow rate of 2,100 STB/day of 15 API oil from the Middle Jurassic age Sargelu Formation. The operator has also stated their intention to begin a phased development of the field in the second half of this year.