Heritage Oil Spuds Well Offshore Sultanate Of Oman

abarrelfullabarrelfull wrote on 22 Aug 2012 05:17

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May 23, 2006

Heritage Oil Corporation (TSX: HOC) today announced that the West Bukha-2 appraisal/development well spudded in Block 8 in the Sultanate of Oman.

This well is targeting Cretaceous age carbonate reservoirs at a depth of approximately 4,100m (13,450 ft). The West Bukha field is the portion of the West Bukha-Hengam gas condensate field that lies approximately 25 km offshore the Sultanate of Oman, north of the producing Bukha field. Between 1975 and 1986, three wells (Hengam-1, Khasab-1 and West Bukha-1) were drilled on the structure, two of which produced gas and condensate and a
third downdip which produced water. Since those wells were drilled, the joint venture has processed and interpreted a 3D seismic survey that has enabled the establishment of a more accurate geological model to locate the best reservoirs in terms of thickness and quality.

The West Bukha-2 well is expected to be completed and flow tested in September.

Eagle Energy (Oman) Limited, a wholly-owned subsidiary of Heritage Oil, has a 10% working interest in the project. Indago Petroleum is operator and has a 40% interest, while LG International has a 50% interest.

Heritage is an international oil and gas corporation with producing properties in the Republic of Congo and Sultanate of Oman, a development property in Russia and exploration projects in the Republic of Uganda. Through its subsidiary KPC, the Company has entered into two MOUs with the Regional of Government of Kurdistan, Iraq. Heritage Middle East, which is focusing on Iraq, has established an office in Amman, Jordan, which it intends to re-locate to Baghdad when the security situation permits.

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