OTCPK:WSRLF - Post by User
Post by
vindaloo_u2on Jul 31, 2013 5:06am
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Post# 21640680
tlm
tlm
TLM...Monetization of only Topkhana is interesting bit (conference call at 10:30est):
'In Kurdistan, the company's K-3 appraisal well reached target depth in June and has been cased, cored and logged. Oil shows and supportive log data indicative of oil were recorded over the majority of the penetrated Kurdamir-3 Oligocene section. Based on initial logging results, the company believes the lowest known oil could extend approximately 150 metres deeper than was proven in the Kurdamir-2 well. Drill stem testing of the K-3 continues, with test results expected in the third quarter.
The 3D seismic acquisition program over the Topkhana and Kurdamir blocks is ongoing. Construction of the Topkhana-2 wellsite is underway, with an expected spud date early in the fourth quarter. The company is currently looking at options to monetize a portion of its net working interest in Topkhana, which will also reduce its capital exposure going forward.'