Energean Oil & Gas announced that it has spudded the WKO-1X well in the West Kom Ombo Field Concession, the first of two committed exploration wells for the Second Exploration Period in the concession.

Energean Oil & Gas holds a 80% working interest and is the operator of the block, while Groundstar Resources Limited holds a 10% carried interest through the exploration drilling stage.

The West Kom Ombo Field Concession, located in Upper Egypt, covers a total area of 31,521 km2.
The WKO-1X will explore the interpreted Prospect-A1 with the primary objective being the Lower Cretaceous Six Hills F & E sandstones.

The well is expected to reach a total depth of approximately 2,370 meters in about 30 days, with the land rig “ST-2” from Sino Tharwa Drilling Company. According to plans, the second well will be drilled in Prospect-B1 to evaluate the exploration potential of the SW side of the block and to determine the thickness of the sedimentary section. The strategic objective of these two exploratory wells is to fulfill the work commitments of the second exploration phase by September 16th of 2011.

After seven months of the acquisition of the West Kom Ombo Concession the Company has accomplished the completion of 25 km of access road from the Luxor-Kharga highway to the Prospect-A1 drilling location, furthermore 95 Km of road completed from Prospect-A1 to Prospect-B1, additionally the setting of all infrastructure and equipment and the rig mobilization to spud the first well on schedule. 

“We are very excited for the beginning of our first drilling operations internationally specially in the promising WKO Block. The drilling program commenced on time and we look forward with anticipation to the results, as we seek to advance exploring the area and enrich our portfolio of assets in Egypt,” Mathios Rigas, Chief Executive Officer of Energean Oil & Gas.

Energean Oil & Gas through its subsidiaries is a private international oil and gas exploration and production group of companies with a Mediterranean and North African Region focus with oil and gas assets currently operated in Greece and Egypt. Aegean Energy (Egypt) Limited – a subsidiary of Energean Oil & Gas – operates also the offshore East Magawish concession in the Gulf of Suez.