kov has no plans to withdraw from syria

Here is the latest update on Itheria-1, which I found on polish website for the company Kulczyk Oil. As you know KOV is a AAE partner and a rig operator, is committed to finish 2 wells by year 2011. As per report, work on first borehole is at progress and expect to finish in nov this year.
------------------------------------------
source- http://gazownictwo.wnp.pl/kov-nie-planuje-wycofania-sie-z-syrii, 148773_1_0_0.html


Kulczyk Oil Company sees no basis at this time to suspend its activities in Syria, though admits that is closely following the situation in this country for the safety of its employees.
- Monitor the ongoing situation in Syria, because the situation is indeed worrying. The key for us is for the safety of people working at our hole. As of today, but there is no evidence to stop drilling in Syria and the withdrawal of workers from the well site - says Jakub Korczak wnp.pl portal, the company's vice president for investor relations.
- We should also remember that we are a Canadian company and therefore we are in constant contact with the embassy of the country in Syria - he adds.

It provides, however, that work on the bore run smoothly. - The works are executed according to schedule.
The plan provides for the completion of the first borehole in November this year.

There will then transfer the equipment at the place of the second borehole and its immediate start.
On the results of the first hole so you'll need to wait until November - says Jakub Korczak.

Also do not stop agonizing over the possible introduction of an embargo on oil supplies from Syria.

This has no effect on the activity of KOV. Exploration is tan at a relatively early stage and the possible start of production runs are probably many months.

Work on the first of two wells in Syria KOV - Itheria-1 - was launched in July this year. Hole reaches a depth of more than 3 km and will study four-way rock fall, which was identified during last year carried out 3D seismic surveys. Data collection covered an area of ​​420 km2 located about 200 km east of Latakia.

Analysis of information obtained allowed the identification of two objects:

The main objective of the first of which are sandstone of Ordovician age.

Block 9, where the hole is located, covers an area of ​​over 10 thousand. km2 and is situated in the northeastern part of Syria, on the northwestern slope of the pool Palmiryd�w, rich in hydrocarbon resources. In the past, in Block 9 were conducted very limited exploration, within it are made only four wells, among other reasons, the assessment of the company, this is an area highly prospective for the occurrence of petroleum, natural gas and condensate.