Gulfsands Petroleum plc, the oil and gas production, exploration and development company with activities in the U.S.A., Syria and Iraq announces that the Company has commenced with the 3D seismic programmes over the Khurbet East Field as well as an exploration area to the south of the field.
3D Seismic
The Company has commenced the following 3D seismic acquisition programmes in Block 26.
Approximately 160 square kilometres of 3D seismic data is being acquired over the Khurbet East Field which will:
• Assist in defining the limits of the Khurbet East Field,
• Allow for optimization of development well locations, and
• Provide additional data over leads immediately adjacent to the Khurbet East Field that have been identified on existing 2D seismic data.
An additional 240 square kilometres of 3D seismic data to the south of Khurbet East is also being acquired. This data will evaluate previously identified exploration leads for developing “drill ready” targets south of Khurbet East and within the Khurbet East “play fairway”.
The seismic acquisition programmes are expected to be completed in January 2008 with processing and interpretation following during the first half of 2008.
Gulfsands’ CEO, John Dorrier, said:
“The 3D seismic surveys at Khurbet East and adjacent areas will provide key information for accelerated development of the field, and provide additional exploration targets for near-term drilling. The Company anticipates moving forward aggressively with Khurbet East development activities in 2008 with the intention of achieving first production there in the second half of the year. The Company also plans to continue its exploration of Block 26 by drilling new exploration prospects during 2008.”