Oil gushing at Gulf Keystone's Iraq field

[k98nights]

Oil gushing at Gulf Keystone's Iraq field

By Lee Wild

Fri 18 Mar 2011

GKP - Gulf Keystone Petroleum Ltd. (DI) Latest Prices Name Price % Gulf Keystone Petroleum Ltd. (DI) 161.00p +30.36% FTSE AIM 100 4,001 +2.30% FTSE AIM All-Share 882 +1.86% Oil & Gas Producers 8,470 +0.63% LONDON (SHARECAST) -

Gulf Keystone has struck big at the Shaikan-2 appraisal well in the Kurdistan Region of Iraq.

The AIM-listed explorer reported a “significant initial oil flow” in a 44 metre interval (1,792-1,836m) in the Jurassic age formation.

“Substantial smoke and/ or the oil flare is/ are visible from the company's office in Erbil some considerable distance from the Shaikan-2 location, indicating that a significant flow has been encountered,” it wrote in a stock exchange announcement.

A test being carried out now is expected to continue for another 72 hours. These will discover things like flow rate and oil quality.

"This initial oil flow continues to confirm our belief in the world class nature of the Shaikan discovery,” Todd Kozel, executive chairman and chief executive said. “We are eagerly anticipating more detailed results from the Shaikan-2 well test."

http://www.sharecast...tory_id=4118753

[Lojack6T]

Just scratching the surface. Drill Baby Drill !

[harry2299]

Black Gold....keep it going!!!

[tjmunson]

Awesome post 98......I think we are gonna see a lot of this as time goes by. The place is an absolute gold mine.

[HYDRANT]

GREAT FIND 98 THIS LIKE JED CLAMPET SHOOTING AND STRIKING BLACK GOLD TEXAS TEE-LOL

Edited March 18, 2011 by HYDRANT