Vast provided the following update on the drilling progress of the Qara Dagh - 1 Exploration Well.
Since the last update on December 13, 2010 the well has been drilled down to 2,522 meters, and over the past several days, an intermediate 9 5/8 inch casing string has been successfully set and cemented.
Based on regional geological correlations with nearby wells it has been interpreted that the well is near the top of the Shiranish formation which is the first of three primary drilling targets in the Cretaceous.
Once logging and related geological survey runs are completed on this current section, drilling operations are expected to resume. Mr. Ahmed Said, President & CEO, stated, "We are pleased with the recent drilling progress, despite past delays due to difficult geological conditions. We are eagerly awaiting further results as we drill into our primary targets".
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