Exploration & Production

GULF KEYSTONE HAS announced the results of a preliminary evaluation of the Shaikan-1 discovery located in northern Iraq. Given the materiality of the discovery,the Company felt it prudent to seek independent evaluation of the Shaikan-1 well, despite being at an early stage of evaluation and testing. Accordingly,

VAST EXPLORATION HAS provided an operational update with regards to its exploration activities on the Qara Dagh Block in the Kurdistan Region of Iraq.

AUDAX RESOURCES ANNOUNCED that Atwood Oceanics has been selected as the successful bidder to provide Drilling Rig Services for the deepwater Sambuca prospect in the Kerkouane permit offshore Tunisia. Atwood will be providing the Atwood Southern Cross semi-submersible offshore drilling unit to conduct the work program.

THE FIRST WELL of Mubadala, the Abu Dhabi-based investment company, and ConocoPhillips joint venture in Kazakstan, will be drilled next year, a ConocoPhillips executive said.

"Plans call for pre-drilling seismic surveys and analyses to be completed this year. “We are currently planning to drill the first well in 2010. The production start date depends upon our exploration programme results," said Charlie Rowton.