Calibre Begins Bina Bawi-1 Testing in Kurdistan

Calibre Energy, Inc. said that the testing of the Bina Bawi-1 exploration well is now underway.

During the week, a Drill Stem Test (DST) was successfully conducted over an interval in the Triassic Kurrachine from 3,200 m (10,498 feet) to 3,210 m (10,531 feet) and flowed non-commercial amounts of natural gas with some water.

The joint venture will continue the testing program to determine the productive and commercial potential of at least three more deep intervals in the well in which there was major fluid loss in zones encountered during drilling operations.

Furthermore, as previously announced, the joint venture anticipates drilling of the Bina Bawi- 2 appraisal well immediately upon the completion of the Bina Bawi-1 in order to evaluate and test prospective intervals in the Upper Cretaceous.

The Bina Bawi-1 is located in the Bina Bawi Exploration and Production Sharing Agreement (EPSA) located in the Kurdistan region of Northern Iraq. The participants in the Bina Bawi EPSA are A & T Petroleum as operator and Hawler Energy, Ltd. Calibre has a 10% net interest in the EPSA.

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 world class unconventional and untapped domestic and international oil and gas resources with domestic operations in the Barnett and Fayetteville Shales and international operations in Kurdistan.