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Greenfields Petroleum Corporation provide Bahar operations update-February 2013

Friday, Feb 08, 2013

Greenfields Petroleum Corporation (the "Company" or "Greenfields") (TSX VENTURE:GNF)(TSX VENTURE:GNF.DB) announced that Bahar Energy Operating Company (BEOC), the operating company for Bahar Energy Limited (BEL) in which Greenfields owns a 33.33% interest, continues drilling on Gum Deniz Well 715 on Platform 2 using the PSG1 drilling rig. The rig is currently drilling 8-3/8" hole out of the 9-5/8" casing (set at 2,072 meters), and is currently at a depth of 2,464 meters. The target objectives will be encountered over the next 1,500 meters. The current rate of penetration is 10 meters per hour.

The PSG2 workover rig is currently fishing tubing on the Bahar well 198. The Bahar well 196 was recently recompleted and is now waiting on high pressure nitrogen to kick the gas well off. Work continues on upgrading and refurbishing Platforms 208a and 168 for future drilling and workover possibilities using another drilling rig and the workover rig PSG2, respectively.

Total production for December 2012 averaged 3,589 BOE/d (net Greenfields 1,137 BOE/d) and average 2012 production was 3,460 BOE/d (net Greenfields 1,095 BOE/d).

Source: Marketwire

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