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Genel Energy announce update on Tawke-23, Kurdistan

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Genel Energy plc (“Genel Energy”) notes that DNO International ASA (“DNO”), as operator of the Tawke Field in the Kurdistan Region of Iraq, has today issued the following statement on the field:

“DNO International ASA (“DNO International”), the Norwegian oil and gas company, announced today that it has commenced extensive testing of the Tawke-23 exploration well in the Kurdistan region of Iraq. The well is the second horizontal well drilled by the Company in the Tawke field and has encountered continuous oil shows within a 930 metre horizontal section in the main Cretaceous reservoir. The test program, expected to last up to three weeks, will focus on ten fracture zones with production potential.

The Company’s first horizontal well in the field, Tawke-20, tested 8,000 barrels per day from each of ten producing intervals in the Cretaceous reservoir and is currently on stream at an average rate of 25,000 barrels per day.

Also currently drilling in Kurdistan are two other Tawke horizontal development wells, Tawke-21 and Tawke-22.”

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