Gulfsands Petroleum PLC (AIM: GPX), said drilling of the KHE-10 horizontal well has been successfully completed and the well will be tied into the Khurbet East Early Production Facility, and production from this well is expected to commence in July.
The oil and gas production, exploration and development company with activities in Syria, Iraq and the US said the drilling rig will now move on to drill KHE-11, the third well in the current three well development drilling programme.
CEO Ric Malcolm said: "The successful and timely drilling of the first two development wells within high quality oil bearing reservoir keeps plans on track for oil production through the Early Production Facility to be increased from the current rate of approximately 10,700 barrels of oil per day and achieve the year-end target rate of 16,000 barrels of oil per day."www.proactiveinvestors.co.uk
No comments:
Post a Comment