Gulfsands Petroleum, the oil and gas production, exploration and development company with activities in Syria, Iraq and the US, has announced an oil discovery at the Yousefieh-1 well in the Gulfsands' operated Block 26, Syria.

The cumulative oil production from the Khurbet East Field has now exceeded one million barrels. The Yousefieh-1 well, located approximately 3km from the Khurbet East Early Production Facility in Block 26, Syria, has encountered 63 metres of net oil pay in the target Cretaceous reservoir system and flowed oil to surface under natural flow at approximately 900 barrels of oil per day (bopd).

Yousefieh-1 well was drilled to a total vertical depth of 2,139 metres and encountered the target Cretaceous reservoirs at a slightly shallower depth than the pre-drill prediction and based on preliminary wire-line log evaluation, the well encountered an oil column of approximately 64 metres, with approximately 63 metres of net oil pay and average porosity of 18.6 per cent.

A drill stem test (DST) was conducted over the top 19-metre interval, flowing oil to surface under natural flow and through a 48/64 inch choke, at an average rate of approximately 900 barrels per day over a three-hour period with only trace amounts of water. While preparing for the main flow period of the DST, the well produced, with the assistance of gas lift, at an average rate of approximately 1,450 barrels per day through a 95/64 inch choke over a three-hour period. The preliminary results of the test indicate very good reservoir permeability.

Preliminary well site analyses indicate the oil gravity is 23 degrees API, similar to the on-site analysis carried out upon discovery of oil at KHE-1. Core recovery operations were successfully completed over the entire reservoir interval and the information obtained from these cores, together with the wire-line log information and results of the DST will provide information for the further appraisal of this discovery.