News

June 01, 2009

Gulfsands Petroleum’s Latest Operations Update talks of “Important Milestone” As Gross Output from Its Syrian Acreage Reaches 3 Million Barrels Of Oil

If nothing else 2009 is turning out to be a year of news flow for Gulfsands Petroleum which has assets in Syria, the US and Iraq. In its latest update on its operations on Block 26 Syria it says the drilling of Khurbet East No 10 (KHE-10) development well has started. The well is designed to be a horizontal producer approximately 700 metres northwest of the KHE-9 location.

The company also says 3D seismic acquisition of 850 square kilometres has been completed. Data is being sent to PGS in Cairo for processing. Delivery of processed data is expected late in the third quarter of 2009. Completion of the 3D acquisition should set the framework for a potentially active exploration programme in 2010.  Meanwhile, gross production from the Khurbet East field has reached 3 million barrels and Gulfsands considers this to be an important milestone.

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