On 6 June 2013, KOMET signs with the KRG a new Production sharing Contract for the Guwayer-Hamdanya Block (705 km2), where intensive exploration activities are being currently carried out on the Guwayer structure, which is one of the 4 structures discovered on the Block (Guwayer (D); Hamdanya (A); West Hamdanya (B); Al Khidir (C)). The Exploration Work Program carried out so far on Guwayer structure includes the following: 155 km of 2D seismic lines (completed in January 2014); deepening of Guwayer-2 well down to 4338m. Guwayer-2 well, drilled in 1981 down to 3638 m, was deepened, current depth - 4338m. Guwayer-3 exploration well was drilled, designed to evaluate the Lower Jurassic (Mus, Adaiyah and Butmah Fm.) and Upper Triassic (Kurra-Chine Fm.) fractured carbonate reservoirs. During drilling, Eocene carbonates of Avanah and Khurmala formations proved oil bearings and shall be evaluated in the next future. The appraisal well Guwayer-4 was designed for 4600m depth also to evaluate Lower Jurassic and Upper Triassic carbonates reservoirs; flowed heavy oil in Cretaceous carbonates; currently drilling at 1603m depth in Upper Jurassic Najmah Fm. on the way to Lower Jurassic & Upper Triassic targets up to 4600m. KOMET's investment up to the present for the Guwayer-Hamdanya Block development constitutes US$155, 1 million, having carried out an exploration program, which exceeds by far the minimum program provided for by the PSC Guwayer-Hamdanya. The drilling rig fleet include 13 drilling and workover rigs ranging from 2300hp to 450hp and nominal drilling depths of up to 7000m.