Gulf Keystone Petroleum Ltd. says that, as informed by the Operator to the Ministry of Natural Resources in the Kurdistan Region of Iraq (Kurdistan), the Bijeel-1 well was spudded on 11th December 2009 in the Akri Bijeel block. Gulf Keystone Petroleum International ("GKPI") holds a 20 per cent working interest in the production sharing contract (PSC). The block is operated by Kalegran Ltd. (80%) a subsidiary of MOL.

The Bijeel-1 well will target prospective intervals in the Cretaceous and the Jurassic. The well is the first exploration well to be drilled on the Akri Bijeel block which is adjacent to the Shaikan block. The well is planned to a target depth (TD) of approximately 4,300 metres and is forecast to take approximately four to five months to complete.

Todd Kozel, Executive Chairman, Gulf Keystone Petroleum, stated, "This is the second exploration well in a multi-well exploration and appraisal programme. We are highly encouraged that the Shaikan-1 well has already significantly de-risked the prospects of our adjacent acreage, making Akri-Bijeel and Sheikh Adi two highly exciting drilling prospects."

Tags: Gulf Keystone Petroleum