LONDON (dpa-AFX) - Heritage Oil Plc (HOIL.L) issued its interim management statement for the period from January 1, 2012 to May 18, 2012.
The company noted that Miran West-3 well was drilled to a total depth of 3,528 metres and the primary target of the Jurassic gas reservoir was successfully tested. The well is being suspended pending completion as a production well. Well testing of the main Jurassic reservoir resulted in a constrained flow of up to 22 MMscf d/of wet gas with a yield of 20 bbl/MMscf of 55? API condensate, Heritage Oil added.
Tony Buckingham, chief executive officer, said, 'We are delighted with the Miran West 3 test results which give us great comfort on the extent of the primary gas reservoir and demonstrates its producibility. We are focused on the monetisation of the world class Miran Field, targeting the phased development of the field with export of the gas to the booming Turkish market. The active work programme in Kurdistan continues with the drilling of the Miran East 1 well and the Miran West-4 oil appraisal well expected to spud later this quarter. We continue to pursue these programmes whilst also considering further value generating opportunities.'
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© 2012 AFX News
