Kurdistan Well Devalues British Explorer
Source: Agencies |
June 14, 2011, Tuesday
|
Print Edition
Print Edition
BRITISH oil explorer Sterling Energy said the deeper parts of a key well in a region of Iraq failed to produce gas at commercial rates, wiping off a quarter of the company's stock market value.
The company said its Sangaw North-1 well in semi-autonomous Kurdistan did not produce hydrocarbons at commercial rates in the Jurassic Mus and Butmah and the Triassic Jurra China geological zones and it would move to test shallower parts of the well.
Shares in Sterling, which have fallen 69 percent in the last 12 months, during which the company experienced delays to its drilling in Kurdistan, tumbled 26.4 percent to 34 pence, their lowest level in more than two years.
Flow tests across two shallower parts of the well would now be conducted, said the company, adding that each test was expected to take three weeks.
The company said its Sangaw North-1 well in semi-autonomous Kurdistan did not produce hydrocarbons at commercial rates in the Jurassic Mus and Butmah and the Triassic Jurra China geological zones and it would move to test shallower parts of the well.
Shares in Sterling, which have fallen 69 percent in the last 12 months, during which the company experienced delays to its drilling in Kurdistan, tumbled 26.4 percent to 34 pence, their lowest level in more than two years.
Flow tests across two shallower parts of the well would now be conducted, said the company, adding that each test was expected to take three weeks.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
