Gulf Keystone Petroleum Ltd, an AIM listed independent oil and gas exploration company with interests in Algeria and Kurdistan, is pleased to announce that drilling and testing of the HBH-5 appraisal well on the Hassi Ba Hamou Permit (HBH Permit) in Algeria has been completed.The HBH-5 well, which was spudded on 28 September 2008, reached a total depth of 928 metres. The well penetrated the Devonian age gas reservoir as predicted by the Gulf Keystone technical team and proves the extension of the HBH gas field to the south east. Furthermore, during a production test a stabilised flow rate of 11,366 cubic meters per hour (9.5 mmscfg per day) was achieved through a 96/64-inch choke.

The drilling rig will now move to drill appraisal well HBH-6, the sixth and final well of the first prospecting period on the HBH Permit. This well completes the work commitments during this phase. HBH-6 is expected to spud within a month. No further announcement on the HBH-6 well is planned until the well has been completed.

The HBH Permit, which contains the HBH gas field, was awarded in April 2005. It comprises five blocks within an area of 18,380 square kilometres in the Bechar Basin in Algeria’s Western Desert.