17th Aug 2011 07:00
17 August 2011
Cambay-76H "Tight" Reservoir Well Report No 11
Oilex Ltd advises that the well is being prepared for well clean-up flow and production testing. The well is currently being flowed to surface to remove stimulation fluids from the eighth fracture stimulation stage and hydrocarbons are being flowed intermittently to surface along with the stimulation fluids. Milling operations to open up the remaining seven fracture stimulation stages have started. After the completion of the clean-up operations a flow test will be conducted.
The Cambay-76H "proof of concept" horizontal well is evaluating the productionpotential of the Y Zone interval of the extensive deep Eocene "tight"reservoirs in the onshore Cambay Production Sharing Contract area, Gujarat,India.Report date 16 August 2011 Status Flow back and milling operations in progress Past Week's Operations * Preparing for well clean-up operations * Commenced first flow-back of hydrocarbons and stimulation fluids Objective Cambay Eocene "tight" reservoir Y Zone Total Depth 2,740 metres including 610 metres horizontal section
Note: All depths refer to measured depth below rig rotary table ("MD")
The participating interests in the Cambay PSC are:
Joint Venture Party Participating Interest Oilex Ltd (Operator) 30% Oilex NL Holdings (India) Limited 15% Gujarat State Petroleum Corporation Ltd 55%
For further information, please contact:
Oilex Ltd +61 (0)8 9485 3200 (Western Australia) Bruce McCarthy Managing Director [email protected] Ben Clube Finance Director [email protected] Ambrian Partners Limited (Nominated Adviser and AIM Broker) Matthew Einhorn +44 (0) 20 7634 4860 (UK) [email protected] Anthony Rowland +44 (0) 20 7634 4858 (UK) [email protected] Read Corporate Nicholas Read +61 (0)8 9388 1474 (Western Australia) [email protected] Tavistock Communications +44 (0)207 920 3150 (UK) Paul Youens +44 (0)7843 260 623 (UK) [email protected] Ed Portman +44 (0)7791 892 509 (UK) [email protected]
This document may include forward-looking statements. Forward-looking statements include, but are not necessarily limited to, statements concerning Oilex Ltd's planned operations program and other statements that are not historic facts. When used in this document, the words such as "could", "plan", "estimate" "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although Oilex Ltd believes that its expectations reflected in these are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements."
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