Heritage Commenced Drilling Miran West-4 Well

Source: www.gulfoilandgas.com 6/22/2012, Location: Middle East

Heritage Oil Plc, an independent upstream exploration and production company, announces that it has commenced drilling the Miran West-4 appraisal well in Kurdistan.

Highlights
- The Miran West-4 appraisal well has commenced drilling on the Miran Block in Kurdistan
- This is the fifth well to be drilled on the large Miran field and the fourth on the Western structure.
- The well is designed to further appraise the Upper Cretaceous oil reservoir
- The Company intends to test and evaluate several intervals as the well is drilled to a target depth of c.1,550 metres
- It is planned to drill a c.500 metre horizontal section in the oil-bearing reservoir in order to maximize penetration of fractures
- The well is expected to take approximately three and a half months to drill and test
- On completion of the drilling, Heritage plans to undertake an extended well test of these oil-bearing reservoirs selling between 3,000 to 5,000 barrels of oil gross per day into the local market

Drilling of the Miran West-4 oil appraisal well has commenced with an estimated target depth of c. 1,550 metres. This will be the fifth well drilled on Miran and the fourth on the Western structure. This highly deviated step out well is targeting the oil within the upper Cretaceous on the flank of the structure and it is planned to drill a c. 500-metre horizontal section in the reservoir in order to maximize penetration of fractures. The well design utilizes recently acquired 3D seismic data and the enhanced understanding of the structural configuration within the Miran Field that this has provided. Drilling of Miran West-4 is expected to take approximately three and a half months. On completion of the drilling, Heritage plans to undertake an extended well test of these oil-bearing reservoirs selling between 3,000 to 5,000 barrels of oil gross per day into the local market.

Tony Buckingham, Chief Executive Officer, commented: “Following the highly successful Miran West-3 test results, the spudding of Miran West-4 continues our active work programme in Kurdistan. We remain focused on the Monetisation of the world class Miran Field, targeting the phased development of the field, whilst also considering further value generating opportunities. The planned extended well test will sell up to 5,000 barrels of oil per day into the local market generating cash flow from the field.”


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