Oryx Petroleum announces spudding of exploration well in Kurdistan

6/19/2013

Oryx Petroleum announces spudding of exploration well in Kurdistan


CALGARY -- Oryx Petroleum Corporation has announced that on June 10, 2013 the Sakson Hilong 10 rig 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 m in the fourth quarter of 2013.

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