Monday, January 9, 2012

Kurdistan Oils Heat Up - Vast, Westernzagros

Rumours of Genel Energy Purchase in Chia Surkh

The Sunday Times reports that Genel Energy Plc will announce a deal this week to buy a 40 percent share inLongford Energy‘s Chia Surkh oil field in northern Iraq.
According to the report, the deal would be worth $70 million, and Genel, run by the former CEO of BP, Tony Hayward, declined to comment.
Kurdistan-focused Genel, already has a 20% working interest in the Chia Surkh oil field. The prospect is believed to contain some 305.7 million barrels of oil equivalent.
(Sources: Bloomberg, Wall Street Journal)
Longford is next door to Westernzagros' block. 
Longford is sister company to Vast Explorations.
The Goombarh holds both Westernzagros and Vast.
Looking for some good news..........sigh....
Jan 9, 2012

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