Genel Energy plc announced that Peshkabir-2 well currently drilling on the Tawke PSC has discovered oil in the Cretaceous horizon in the southern flank of the Peshkabir field. The well flowed at a stable rate of 3,800 barrels of 28° API oil per day on a 52/64 choke from an open hole test of a 170-metre interval. Pressure data supported by observations of oil shows from cuttings and side wall cores indicate a Cretaceous oil interval in excess of 300 metres. Peshkabir-2 was spudded in October 2016 to explore the Cretaceous horizon and appraise the previously tested deeper Jurassic reservoir on a 2012 discovery 18 kilometres to the west of the Tawke field. The well, currently drilling ahead of schedule and under budget, is expected to reach total depth of 3,500 metres and will be completed in the Jurassic by early February. Pre-spud estimates for drilling, open hole testing of the Cretaceous and completion stood at $17.5 million. The Tawke partners will provide an update on the resource potential of both the Cretaceous and Jurassic horizons following post well evaluation of all data acquired during Peshakabir-2 operations.