Gulf Keystone report that the Shaikan-6 appraisal well has spudded on the Shaikan block in the Kurdistan Region of Iraq on 16th December 2011.

Shaikan-6 is the fourth deep appraisal well to be drilled on the Company's major oil discovery with independently audited gross oil-in-place volumes of between 8 billion barrels and 13.4 billion barrels calculated on the P90 to P10 basis with a mean value of 10.5 billion barrels.

Shaikan-6 is being drilled 9 km to the east of the Shaikan-2 appraisal well to an estimated total depth of 3,800 metres subject to technical conditions. Shaikan-6, the last appraisal well to be drilled as part of the Shaikan appraisal programme, will target prospective intervals in the Jurassic and Triassic

Shaikan-6 will be followed by the Shaikan-7 exploration well in 2012, which will target potential untapped resources in the lower Triassic and the Permian, the Company's deepest undrilled horizon to date.

Gulf Keystone is the Operator of the Shaikan block with a working interest of 75 per cent and is partnered with Kalegran Ltd. and Texas Keystone Inc., which have working interests of 20 per cent and 5 per cent respectively.

Tags: Gulf Keystone Petroleum