EXPLORATION/DEVELOPMENT BRIEFS

Iraq

A group led by New Age (African Global Energy) Ltd. has completed shooting 250 line-km of 2D seismic on the Khalakan block east of Taq Taq oil field in Iraqi Kurdistan.

Initial rudimentary processing and interpretation indicates several surface and subsurface structures that are of immediate interest, said Range Energy Resources Inc., Vancouver, BC, which has an indirect 24.95% working interest in the block.

In addition to the seismic, Range independently commissioned a field geological survey over the structures by Iraqi geologists familiar with the area's structural complexities. The additional surface geological and structural data obtained from the field will greatly aid seismic program interpretation, Range Energy said.

Sonde Resources Corp., Calgary, reported "robust test results" from an appraisal well on the Tunisian side of the 7th of November block in the Gulf of Gabes off Tunisia and Libya. Zarat North-1, in which Sonde owns 100% working interest alongside the Tunisian-Libyan Joint Oil combine, went to 9,728 ft vertically and cut 240 net ft of pay in the Eocene El Gueria limestone. Sonde set casing to TD and ran three production tests through 2-1/4-in. tubing from 42 ft above the water contact to 177 ft above the water contact.

All three tests flowed substantial quantities of gas-condensate, with Test 2 sustaining 8 MMcfd of gas and 750 b/d of condensate. Condensate rates peaked at 1,100 b/d, and gas rates were 8-11.5 MMcfd. All tests produced water at 200-350 b/d of drilling fluids and formation water, with water decreasing and oil increasing throughout the tests. Sonde is assessing test data to determine key reservoir characteristics including porosity, permeability, water saturation, and gas composition.

Located 1.25 miles northeast of the Marathon Zarat-1 discovery and 1.9 miles northeast of the Zarat-2 appraisal, Zarat North-1 encountered gas-oil and oil-water contacts at the same structural elevation as the Marathon wells, confirming a significant extension to the previously proven accumulation.

Sonde said the results suggest that an economically viable, near-term development may be possible. By comparison with the Zarat North results, the Marathon Zarat-1 well flowed 5.3 MMcfd and 457 b/d on a first test and 15.1 MMcfd and 1,181 b/d on a second test.

Sonde said hydrocarbon column thickness was about twice that originally estimated for the Zarat North location. Sonde will temporarily abandon the well for reentry and review the use of horizontal wells to develop the field.

Management is reviewing recoverable reserve scenarios, development options, and cost estimates for development of Zarat field and will investigate unitization options with PA Resources, Stockholm, which holds a portion of the field immediately south of the 7th of November block. Sonde Resources is also studying development financing and monetization options, including selling interests to one or more potential partners.

Valeura Energy Inc., Calgary, is drilling at 1,670 ft at the Altinakar-1 wildcat on License 2674 in southeastern Turkey's Karakilise area targeting light oil in the Ordovician Bedinan sandstone at 8,200 ft.

Valeura defined the 1.9 sq km tilted fault block prospect on 2D seismic it shot in the fourth quarter of 2010. The company is funding 100% of the $4.0 million turnkey cost of drilling as part of the Phase I earning program under the previously announced farm-in agreement with Aladdin Middle East Ltd. and Guney Yildizi Petrol Uretim Sondaj, Muteahhitlik ve Ticaret AS.

If Altinakar-1 succeeds, regulatory approval likely could be secured for a 3-year extension to the license term that would enable further evaluation of more than 10 undrilled prospects and leads identified in the Bedinan formation from the new 2D seismic.

A group led by Oil Search Ltd., Sydney, gauged oil at a rate of 145 b/d on a drillstem test of the Al Meashar-2 well on Block 7 in Yemen's Shabwah basin.

The company used a jet pump to test the basement target interval and then shut in the well for further build-up tests. It will then be suspended.

The well was drilled from the existing pad of the early 2010 Al Meashar-1 discovery well using managed pressure drilling to minimize damage from drilling fluids in the reservoir.

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