Mr. Ahmed Said reports
LONGFORD ENERGY INC.-ANNOUNCES COMPLETION OF 2D SEISMIC PROGRAM IN KURDISTAN REGION OF IRAQ
Longford Energy Inc. has successfully completed on time and within budget the seismic acquisition program commissioned for the Chia Surkh block in the Kurdistan region of Iraq. The Chia Surkh Block covers approximately 985 square kilometres on trend with existing discoveries and is located in the prolific Zagros Fold Belt of Northern Iraq, which contains several large fields including the super-giant Kirkuk field.
The 307 kilometre 2D seismic program was designed to complement and augment the existing historical seismic data, delineate the previously discovered oil reservoir and assist in the selection of the first well location, which is expected to be spud during the second quarter of 2011.
The first well is anticipated to be drilled on the Chia Surkh Field, to a total depth of 2,400 meters, confirming the shallow Jeribe discovery drilled in 1936 and reported to have tested at 4,800 barrels of oil per day. The upcoming well has been designed as a future oil producer, and upon successful testing, the Company intends to promptly build early production facilities and bring the well online.
Processing and interpretation of the recently acquired seismic data is ongoing to better define the additional surface structures identified within the block and a subsequent second drill location which is also expected to be spud in 2011. Over the upcoming months the Company expects to issue a revised independent resource estimate for the Chia Surkh Block based on the recently acquired seismic data.
Mr. Ahmed Said, President & CEO, stated "The operational team has done an excellent job completing this program successfully. We look forward to the drilling campaign on this very prospective block".
We seek Safe Harbor.