Oryx Petroleum has announced that on June 10, 2013 the Sakson Hilong 10 rig (2000 HP) spudded the AAS-1 well in the Hawler license area in the Kurdistan Region of Iraq.
The AAS-1 well is targeting the Ain Al Safra prospect which is estimated to contain 225 MMbbl in unrisked gross (100%) prospective oil resources (risked: 44 MMbbl) based on evaluations as of March 31, 2013 made by Netherland, Sewell & Associates, Inc., an independent oil and gas consulting firm providing reserve and resource reports to the worldwide petroleum industry.
The AAS-1 well is targeting the deeper light oil potential in the lower Jurassic and Triassic and heavy oil potential in the Cretaceous and is expected to reach total depth of approximately 4,220 metres in the fourth quarter of 2013. The AAS-1 well is the third exploration well spud in the Hawler license area following the successful DD-2 exploration well targeting the Demir Dagh prospect which was spud in July 2012 and completed testing in March 2013 and the ZEG-1 exploration well targeting the Zey Gawra prospect which was spud in late April 2013 and is expected to reach total depth late in the third quarter of 2013. Oryx Petroleum has a 65% participating and working interest in and is the operator of the Hawler license area.
