The Anglo-Turkish oil and gas independent, Genel Energy, today announced that a successful side track of the original Ber Bahr 1 exploration well in the Kurdistan Region of Iraq, has confirmed the existence of a commercial oil discovery. The Ber Bahr 1 well original TD was 3933m 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 2100 STB/ day of 15 API oil from the Middle Jurassic age Sargelu Formation. Dr John Hurst, head of Exploration of Genel Energy, said: "The Ber Bahr well adds a further commercial oil discovery to Genel's already significant KRI resource base. We plan to begin a phased development of the field in the second half of this year."
22 May '13
Expectation of first production mid 2015 if there is political stability. good company Buy/Hold
20 May '13
18 May '13
On this in a few weeks. This was meant to be a slow burner for me. Nice!
17 May '13
even better today
2nd Resistance Point 949.667 1st Resistance Point 930.333 Last Price 911.000 1st Support Level 896.333 2nd Support Level 881.667
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