SOURCE: General Exploration Partners Inc.

General Exploration Partners Inc.

April 13, 2011 16:15 ET

General Exploration Partners Inc. Announces a Significant Oil Discovery at Atrush, Kurdistan

DENVER, CO--(Marketwire - Apr 13, 2011) - General Exploration Partners Inc. ("GEP") is pleased to announce a significant oil discovery in the recently drilled Atrush-1 exploration well in Kurdistan.

The Atrush-1 well was spud on 5th October 2010 and successfully reached a revised Total Depth ("TD") of 3400m Measured Depth ("MD") on 21st January 2011 after 91 days. The well was drilled on time and within budget and encountered a 726 gross metres of potential reservoir section of Lower Cretaceous and Jurassic age rocks (120 metres net pay* with matrix porosity, all in Jurassic age rocks). Drilling shows and logging calculations indicate additional potential net pay zones of up to 146 metres in the Upper Butmah and Cretaceous formations. These particular zones, tests of which were inconclusive, will be further tested and evaluated in future wells.

Ten drill stem tests were conducted over horizons in the Cretaceous, Jurassic (main targets of the well) and Triassic to establish reservoir pressure gradients, fluid content and properties, and reservoir deliverability. Excellent flow rates were established totalling 6,393 bopd from 3 horizons. The flow rates were limited by tubing sizes and testing equipment. Well analyses show that the intervals are capable of producing much higher rates when completed for production. Based on initial pressure drawdown analysis, production rates may be significantly higher through the use of submersible pumps. The three tests in the Middle and Upper Jurassic reservoirs produced 26.5 API degree oil. Tests in the Upper Butmah flowed 11.5 degree API oil. The Upper Butmah interval demonstrated good quality oil and gas shows during drilling and will be further tested and evaluated in future wells.

Although not a primary target, testing in the Triassic was carried out for data generation. This zone had limited hydrocarbon shows during drilling and flowed water during testing.

Alex Cranberg, the Chairman of GEP, commented, "Our team did an outstanding job drilling the well timely and within budget. The testing of Atrush-1 further confirms our belief that the block contains a significant discovery. We appreciate the strong support we have received from our many local employees, our suppliers, ShaMaran Petroleum, Marathon Oil and especially the Kurdistan Regional Government."

The well was operated by the joint-venture company GEP which holds an 80% working interest in the Block. Aspect Holdings, LLC through its Aspect Energy International LLC subsidiary has a two thirds interest and ShaMaran Petroleum Corp. through its wholly owned subsidiary, ShaMaran Ventures BV, holds a 33.5% interest in GEP. Marathon Petroleum KDV B.V., a wholly owned subsidiary of Marathon Oil Corporation (NYSE: MRO), holds a 20 percent interest in the block.

*Net matrix pay is defined by cut-offs PhiE >0.07 and SwA < 0.60.

This press release contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as legal and political risk, civil unrest, general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and management's capacity to execute and implement its future plans. Actual results may differ materially from those projected by management. Further, any forward-looking information is made only as of a certain date and neither the Company nor its partner's undertakes any obligation to update any forward-looking information or statements to reflect events or circumstances after the date on which such statement is made or reflect the occurrence of unanticipated events, except as may be required by applicable securities laws. New factors emerge from time to time, and it is not possible for management of the Company to predict all of these factors and to assess in advance the impact of each such factor on the Company's nor its partner's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information.

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