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Gulfsands Petroleum (LON:GPX.L) report: Syria Update
October 25, 2010, Monday, 19:53 GMT | 14:53 EST | 23:23 IST | 01:53 SGT
By Daniel Stewart & Co
-The Khurbet East-18 well has been drilled 800m to the north of the Khurbet-1 discovery well in an effort to delineate the field
-The reservoir was encountered 12m higher than the pre-drill prognosis and just 4m below the highest point know in the reservoir so far and indicates that the field extends in a more northward direction than previously thought
-The well encountered a gross 45.8m or 36.5m net with average porosity of 20.2% bad oil saturation of 86.9%
-The impact on oil in place and recoverable oil will be calculated at year end and should be available in Q1 2011
-The rig will no move to the Twaiba-1 location which is 7km northeast of the discovery well
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