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Longford Energy Inc.-Provides Update on
Kurdistan Activities
15.3.2010
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Longford Energy Inc.-Provides Update on Kurdistan
Activities and Appointment as Operator of Chia Surkh
Block
March 15, 2010
CALGARY, Alberta,— Longford
Energy Inc. ("Longford" or the "Company") (TSX
VENTURE: LFD) is pleased to announce that it has
been recently appointed as the Operator of the Chia
Surkh Block and plans to commence seismic
acquisition during the second quarter of 2010.
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As previously announced, the Company acquired a
participating interest in a PSC Contract in June
2009 for the Chia Surkh Block, which covers
approximately 985 square kilometers, in the
Sulaimaniyah Governorate of the Kurdistan Region of
Iraq. The Block contains a historical
discovery as well as multiple exploration prospects.
An initial resource estimate was completed by
DeGolyer and MacNaughton Canada Limited in September
2009 for the shallow Tertiary horizons of the
discovered field. The independent assessment
established a gross unrisked prospective resource
with a "best estimate" of 132 million barrels of
potential ultimate recoverable oil on the field as
of September 1, 2009. In addition, the Company has
identified up to five exploration prospects and
leads that could provide significant opportunities
to further discoveries and resource expansion.
Longford has completed the establishment and
registration of its Kurdistan office in the city of
Sulaimaniyah, and in preparation for the start of
operations,www.ekurd.neta
professional management team comprising of foreign
staff personnel and local nationals have been put in
place. A 300 km 2D seismic acquisition program has
been prepared and approved. The seismic program has
been designed to evaluate both the known Chia Surkh
Field and up to four exploration prospects on the
Block. The Chia Surkh Field will be evaluated for
near term development potential and the exploration
targets, defined by surface anticlines, will be
further appraised for exploration drilling.
Currently a baseline Environmental Impact Assessment
is being conducted, and various other surveys have
been initiated. The seismic tendering process has
been launched and the Company expects to award the
seismic contract in April 2010.
Additionally, the Company is in the early planning
stages to drill the first exploration well on the
Chia Surkh Field during the fourth quarter of 2010.
About Longford Energy Inc.
Longford Energy Inc., is a junior Canadian oil and
gas exploration and production company. Longford has
acquired a significant interest in the Chia Surkh
Block Production Sharing Contract in the Kurdistan
Region - Iraq. The Block offers a field development
opportunity and multiple exploration prospects.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this
release.
SOURCE: Longford Energy Inc.
Copyright, respective author or news agency,
Longford Energy Inc.
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