Calibre Waiting on Equipment for Northern Iraq Well Test

Calibre Energy, Inc. on Thursday said that the Bina-Bawi 1 exploration well, located in Iraqi Kurdistan, was waiting on material and testing equipment for the planned testing of the well.

As previously announced, the Bina-Bawi 1 reached a total depth of 3,355 meters (11,007 feet) and awaits the commencement of testing to determine the productive and commercial potential of at least three zones intersected by the well. The Joint Venture has agreed to commence testing to determine the productive and commercial potential of at least three zones intersected by the well. Furthermore, the Joint Venture anticipates drilling the Bina-Bawi 2 appraisal well upon the completion of the Bina-Bawi 1 in order to evaluate and test the prospective intervals in the Upper Cretaceous.

Headquartered in Washington, DC with operating offices in Houston, TX, Calibre Energy, Inc. is an early-stage oil and gas company focused on the creation of shareholder value through the development of -lass unconventional and untapped domestic and international oil and gas resources with domestic operations in the Barnett and Fayetteville Shales and international operations in Iraqi Kurdistan.

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