Heritage Oil Provides Operations in Miran Block

Source: www.gulfoilandgas.com 6/21/2011, Location: Middle East

Heritage Oil Plc, an independent upstream exploration and production company, issues its Interim Management Statement for the period from 1 January 2011 to 17 May 2011, in accordance with reporting requirements of the EU Transparency Directive.

Exploration Assets
The Miran West-3 well is scheduled to spud in July and will take an estimated 160 days to drill and test. The well is targeting flanks of the Jurassic structure, with the benefit of the current 3D seismic survey. The well will further appraise Upper and Lower Cretaceous reservoirs whilst drilling to its primary Jurassic objective, with an estimated total depth of approximately 3,800 metres. The well bore will be angled to increase the frequency of fracture penetration and is to be orientated to maximize interception of open fractures. A comprehensive testing programme is planned, targeting numerous potential reservoir horizons.

Heritage currently plans to have two rigs drilling in Kurdistan before the end of the year. On completion of the Miran West-3 well the rig will move to drill the Miran West-4 appraisal well. A second rig is being sourced to drill the Miran East-1 exploration well in the fourth quarter of this year.

Seismic Acquisition
Heritage is currently acquiring 730 square kilometers of 3D seismic across the Miran Block to help define further appraisal drilling locations and fully exploit fracture networks. The processing of an initial data set is being fast-tracked to enable early interpretation of the main body of the 3D dataset.

In addition, 180 kilometers of new 2D seismic data will be acquired within the Block during the summer of 2011 to define other potential prospects.


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