From the Genel Energy WebsiteFunny, Genel says the CS-7 confirmed the presence of commercial quantities of oil and gas. They obviously haven't had the advantage of good40's expertise to tell them differently. So who do you believe?
Chia Surkh covers 938 km2 and includes potential prospects as well as adrilled structure called Chia Surkh. The ChiaSurkh structure is anasymmetrical anticline, in which the southwest flank is more steeplyinclined than that on its north-eastern margin. The main axis of thestructure trends northwest to southeast; and the structure is 6.5 kmlong by 1.6 km wide. The Chia Surkh structure was the first structuredrilled in the Iraq ( CS-1 and 2) in 1902 and 1905. A total of ninewells have been drilled in this field, and well CS-7 was the first wellto confirm the presence of commercial quantities of oil and gas. Inorder to define properly all of these leads 307 kilometers 2D seismicwas planned in 2010. The PSC allocates a 20% participating interest toGenel Energy, a 40% participating interest to Forbes and Manhattan and a20% participating interest to Petoil. The government retains a 20%participating interest.
Forbes and Manhattan will be the operator for the first three yearsand a joint operating company will be established thereafter.