Oryx Petroleum announces update for Banan-1 exploration well in Kurdistan Region of Iraq

1/28/2014

Oryx Petroleum announces update for Banan-1 exploration well in Kurdistan Region of Iraq

CALGARY -- Oryx Petroleum announced an update on its drilling activities at Banan and Demir Dagh in the Hawler license area in the Kurdistan Region of Iraq. Oryx Petroleum is the operator and has a 65% participating and working interest in the Hawler license area.

Henry Legarre, Oryx Petroleum's Chief Operating Officer, stated, "Our exploration and appraisal activities in the Hawler license area continue to progress.

“We have completed drilling the Banan exploration well targeting one of the largest prospects in our portfolio. Hydrocarbons were encountered in the Cretaceous, Upper and Lower Jurassic and Triassic and we are now commencing a testing program. We have successfully recompleted the Demir Dagh-2 well and we are making excellent progress with the Demir Dagh-3 and Demir Dagh-4 appraisal wells. Observations during drilling of all wells on the Demir Dagh structure continue to be encouraging."

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