7th Sep 2011 07:00
7 September 2011
Cambay-76H "Tight" Reservoir Well Report No 14
Oilex Ltd advises that operations to prepare for well clean-up flow and production testing are continuing. Operations to retrieve down hole equipment, open up the remaining fracture stimulation stages and install production tubing will be conducted with a workover rig. Given the likely duration of this phase of the operations will be a few weeks, Oilex will provide the next update on operations when progress has been made.
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 6 September 2011 Status Preparations for well clean-up flow and production testing Past Week's Operations * Sourcing rig and equipment for the planned operation to retrieve tools in well * Successfully completed chemical cutting of coil tubing in hole * Demobilised surplus equipment, personnel and services. 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) Ed Portman +44 (0)7733 363 501 (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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