VST: Drilling Forward to Evaluate Deeper Potential

KEVIN SHAW, Wellington West Capital Markets (04/08/2011)
"Operator Niko Resources has now set multiple casing strings and continues to move the yardsticks on this frontier exploration well [Qara Dagh]. . .Preliminary analysis shows 143m of prospective pay in the lower Tanjero and upper Shiranish formations; Shiranish is the first primary reservoir to be penetrated. . .Niko Resources has applied to the Kurdistan Regional government for a one-year extension to allow for further drilling and evaluation at depth."

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