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Gulfsands Petroleum Updates Syria Operations

Source: www.gulfoilandgas.com 10/6/2010, Location: Middle East

Gulfsands Petroleum plc, the oil and gas production, exploration and Development Company with activities in Syria, Iraq, Tunisia, Italy and the U.S.A., is pleased to provide the following update on the Company's operations at Block 26, Syria, where Gulfsands holds a 50% interest and is operator.

Yousefieh South - 1 Exploration Well
The Yousefieh South-1 ("YSO-1") vertical exploration well has been successfully drilled to a total depth of 2100 meters Measured Depth Below Rotary Table ("m MD BRT"). The top of the primary objective, the Cretaceous aged "Massive" reservoir, was encountered 41 meters deep to prognosis at a depth of 1990 m MD BRT, 1583 meters True Vertical Depth Below Mean Sea Level ("m TVD SS"). A total of 12 meters of continuous oil-stained core were recovered from the reservoir interval and a formation evaluation Programe consisting of wire-line logs was then completed. Analysis of the core along with the wire-line logs indicates that the well encountered a gross 11.5 meter (net 10.8 meter) column of oil bearing reservoir within the Massive formation, with an average porosity of 19.7% and average oil saturation of 61.6% over the pay interval. An oil-water contact may be present at approximately 1595 m TVD SS, similar to the contact depth that was encountered in the Yousefieh field approximately 2 kilometers to the north.

The oil-bearing formation was flow tested under nitrogen lift conditions, but only minor non-commercial volumes of 16-degree API oil and water were recovered to surface. The poor flow performance of this well may relate to the viscous nature of the oil, possible formation damage and the close proximity to the oil-water contact. The well will be further flow tested following plug-back and acidification of the formation via a rig-less operation to be conducted mid-October, an operation that has proved very successful in improving production performance at the Yousefieh Field.

Khurbet East - 18 Field Delineation Well
The Crosco 401 drill rig used in the drilling of the YSO-1 exploration well has now been mobilized to the next well on the Company's Khurbet East Field development programe, the Khurbet East-18 ("KHE-18") vertical delineation well, located on the north-west flank of the Khurbet East Field. Drilling and evaluation of this well is expected to require approximately 30 days to complete.

Results of Well Testing of Development Wells
The recently completed horizontal development well Yousefieh-4H has been subjected to an extended flow test. Following a clean-up flow period, the well flowed at an average production rate of 1617 barrels of oil per day ("bopd") of 22 degree API oil over an 11-hour flow period on a choke setting of 48/64" at a wellhead flowing pressure of 72 psi. The well has now been diverted to the Yousefieh Early Production Facility ("EPF").

The Khurbet East horizontal development well, Khurbet East-17H has also been subjected to an extended flow test. Over an 18 hour flow period, the well produced at an average rate of 1564 bopd of 26 degree API oil on a choke setting of 24/64" at a wellhead flowing pressure of 272 psi. The well has now been hooked up to the Khurbet East EPF and is contributing to production from the field.

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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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