Spudded on February 8, the Konyunlu-2 well has reached a depth of 1112 metres where it is being logged, cased and cemented.

Drilling is not due to start again until the end of February, as Eureka said the rig was waiting on delivery of test equipment.

The main target reservoirs are the Cretaceous-age carbonates of the Garzan Formation

and Mardin Group, the same reservoirs which host oil in the Raman fields and

numerous other oil fields in the region.

Total depth is planned for 1260 metres, with the top of the Mardin Formation due to be encountered at about 1216m.

In addition, the joint venture has nearly finished acquiring 56 kilometres of new seismic in an attempt to investigate the structural trend east of the Koyunlu-2 well location.

Eureka is earning a 20% interest in two adjoining exploration licences covering about 590 square kilometres of the Bismil oil prospect.

The Koyunlu-2 well is the second of two farm-in wells to be drilled, following Koyunlu-1, which was drilled in December 2006 and encountered 24m of net oil pay.