17th Apr 2009 07:00
17 April 2009
CAMBAY 75 OPERATIONS REPORT - GUJARAT INDIA
Oilex advises that drilling operations on the Cambay-75 appraisal/development well commenced on April 16, and drilling is currently proceeding in the top hole section at a depth of 116 metres.
The planned total depth of the well is approximately 1,500 metres and is anticipated to take 15 days to drill with an additional 5 days for completion and initial testing. If successful, production from Cambay-75 will be added to the current production stream.
The primary objective of Cambay-75 is the Miocene Basal (MBS) oil sand which is producing in the nearby Cambay-64 and -74 wells. Cambay-75 is located to the west of these wells on the large unfaulted western flank of the field where an estimated 5-15 million barrels of oil in place potential resource is recognised.
Participants in the Cambay Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex Ltd (Operator) 30% Oilex NL Holdings (India) Limited (100% owned by Oilex 15% Ltd) Gujarat State Petroleum Corporation Limited 55%
Yours sincerely,B. H. McCarthyManaging Director
For further information, please contact:
Ray Barnes Technical Director, Oilex Ltd Tel. +61 8 9485 3200 (Western Australia)
Archie Berens Director Pelham Public Relations Tel. +44 20 7743 6679 (United Kingdom)
RFC Corporate Finance Ltd acts as Oilex's Nominated Adviser, contact Stuart Laing +618 9480 2506.
The information in this report has been compiled by the Managing Director of Oilex Ltd, Bruce McCarthy B.Sc. Hons. PhD (Geology) who has over 29 years experience in petroleum geology and Ray Barnes, B.Sc. Hons. the Technical Director of Oilex Ltd who has over 35 years experience in petroleum geology and is a member of the AAPG & EAGE. Estimates of oil-in-place are reported in accordance with the standard definitions set out by the Society of Petroleum Engineers, further information on which and a glossary of terms used inthe oil and gas industryis available at www.spe.org.
Figure 1. MBS depth structure map with well locations and reservoir compartments(see Oilex website for full report)
vendorRelated Shares:
OEX.L