Kam Fard, President and Chief Executive Officer of Groundstar Resources Limited says that Groundstar's consortium has completed the acquisition of its 2-D seismic program over the surface structure that dominates the Qara Dagh block.

The 355-kilometre program was completed successfully using a combination of vibrator and dynamite sources. Processing has commenced and interpretation will follow once final processed sections are received. Interpretation of the data is expected to resolve the subsurface structural model and identify potential reservoir sections leading to the selection of a drilling location.

The first drilling location is expected to be identified by the end of the third quarter of 2009. Groundstar holds a 6% participating interest in a Production Sharing Contract with the Kurdistan Regional Government in the 846 square kilometre Qara Dagh block in Sulaymaniyah governorate of the Federal Region of Kurdistan - Iraq.

Tags: Groundstar Resources Limited