Iraqi Well Sings for Talisman

Talisman Energy Inc. has confirmed the presence of light oil at the Kurdamir-2 well in the Kurdistan Region of northern Iraq.

"This is an exciting development in our understanding of this play," said Richard Herbert, Executive Vice-President of International Exploration. "We have tested only a portion of an upper zone, but we have clear indications that there is oil here, in addition to natural gas and gas condensate. We are now drilling into the deeper objectives and will conduct more extensive testing, including stimulation, over the summer."

The well flowed at unstimulated rates of 7.3 mmcf/d of natural gas and 950 bbls/d of oil and condensate, with no indications of water and no observed decline. This open hole drillstem test was conducted only over the upper 180 feet (55 meters) of the Oligocene reservoir. A total of 459 feet (140 meters) of gross reservoir (289 net feet or 88 meters net) was identified through wireline logging.

The Kurdamir-2 well is a re-drill of the Kurdamir-1 gas/condensate discovery well, 1.2 miles (2 kilometers) away, that was drilled in 2009 but not completed.

Talisman is operator of the Kurdamir Block, with a 40% working interest. Joint venture participants include WesternZagros, with a 40% working interest, and the Kurdistan Regional Government (KRG), with a 20% carried interest.