Investing $1.3 Million, PetroShad Hits Dry Hole

In its Western Desert concession area, PetroShahd has completed drilling an exploratory well in the context of its drilling plan for the fiscal year 2011/2012. Seismic studies assessing the wells potential have proved the well dry.

The depth of the newly drilled GHARD-2 well has reached 11,851 feet using the ECDC-7 rig, with total investments averaging $1.322 million.





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