Oil Search spuds Shakal-1 well in Iraq

Oil Search reports that the Shakal-1 well commenced drilling on 4 October. As at 0600 Iraqi time (-7 hrs AEST) on 8 October, the well was at a depth of 21 metres and drilling ahead in a 30” hole.

The Shakal-1 prospect is targeting a large sub-thrust anticline. The primary objectives of the well are Tertiary and Cretaceous reservoirs similar to those in nearby discoveries. The planned total depth of the well is 3,350 metres and it is expected to take approximately 60 days to drill.

In line with Kurdistan Regional Government requirements, Shakal-1 is being drilled as a tight hole. As such, no further releases will be made unless there is a material or share price sensitive outcome.

The participants in Shakal-1 are:
Shakal Production Ltd 36%, operator
Kurdistan Government 20%
Kurdistan Government (unassigned) 20%
Oil Search Limited 15%
Petoil 9%%
Total 100%



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