CALGARY, ALBERTA, Nov. 12, 2010 (Marketwire) -- Vast Exploration Inc. ("Vast" or the "Company") (TSX VENTURE:VST)
Drilling Update
- The Qara Dagh -1 well was spud on 12 May 2010 with a planned total depth
of 3,600 to 4,000 meters.
- As previously reported, the well encountered a 64 meter thick Aalijii
zone, potentially containing light oil. Testing on this zone and other
prospective zones of interest will commence after reaching total depth and
upon completion of the drilling operations.
- After setting the 13 3/8 inch casing string at 1,650 meters, the well was
drilled through an unexpected unstable zone to a depth of 2,239 meters in
the upper Cretaceous formation. This zone has caused delays in the
drilling progress; however, the Company does not expect this issue to
persist once it enters the first potential reservoir.
- Currently the plan is to install an intermediate 11 3/4 inch casing string
and the subsequent go-forward plan is to drill ahead and evaluate the
three primary targets in the Cretaceous zone, with the Shiranish formation
being the uppermost prospective reservoir.
- Drilling for Qara Dagh-1well is anticipated to be completed in January
2011.
- Given the recent financing completed on October 18, 2010 the Company is
fully funded to see the drilling program to completion.
About Vast Exploration Inc.
Vast Exploration Inc. is an independent oil and gas company. Vast is focused on the exploration and development of its principal asset, the Qara Dagh Block, in the Kurdistan region of Iraq. The Qara Dagh Block lies on trend with existing discoveries and is located in the prolific Zagros Fold Belt of Northern Iraq, which contains several large fields including the super-giant Kirkuk field.
Regulatory Statements
