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Heritage Provide an Exploration Updates in Miran Field

Source: www.gulfoilandgas.com 11/15/2012, Location: Middle East

Following the Initial Sale, Heritage Energy Middle East Limited (HEME) currently holds a 49% interest in the Miran Block and continues to act as operator.

Miran West
Initial work-over operations to prepare the Miran West-1 well for completion took place during September 2012. It is anticipated that the extended well test will begin in December 2012 and will last for a maximum period of six months. The resulting planned production of 3,000 to 5,000 barrels of oil gross per day will be sold into the local market in Kurdistan.

Miran East
The Miran East-1 exploration well is the first well to be drilled on the Eastern structure, which is contiguous with the large hydrocarbon-bearing Western structure. The well commenced drilling in March 2012, targeting exploration potential within the Cretaceous and Jurassic intervals. As at 14 November 2012, the well has reached a depth of 4,850 metres and evaluation of the well is ongoing. The Upper Cretaceous reservoir interval has been shown to be in pressure communication with the Western structure and shows observed whilst drilling the Lower Cretaceous section are consistent with wireline log interpretation indicating the presence of hydrocarbons. Well operations are ongoing and expected to take up to six weeks.

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