The UK's Gulf Keystone said Thursday that a preliminary evaluation of its Shaikan-1 well in the Kurdistan region of northern Iraq, tested to a depth of 2,055 meters, showed that oil in place ranged from 1 billion- 5.3 billion bbl. An extended well test, scheduled to begin in late 2009 after a target depth of 3,200 to 3,500 meters is reached, will gather data to evaluate recoverability factors. Shaikan-1 was spudded in April.
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