Oil Search announces drilling report

Thursday, Dec 27, 2012

Oil Search reports that as at 06:00 hours KRI time on 27 December, the Taza 1 ST1 well was at a depth of 3,200 metres and preparing to drill ahead towards the Euphrates Formation.

During the week, testing of the Jeribe and Dhiban Formations continued
over the interval from 3,056 to 3,200 metres. A stabilised flow rate of 200- 250 bopd, comprising oil, gas and water, was achieved, with the proportion of oil steadily increasing to over 50% of produced liquids prior to a decision to terminate the test. Interpretation of all the test information is ongoing.

The Taza prospect is located approximately 80 kilometres southwest of the city of Sulaymaniyah. The primary objectives are Miocene and Oligocene carbonates of the Jeribe and Euphrates Formations.

Source: Oil Search Limited

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