6th Jul 2011 07:00
6th July 2011
Cambay-76H "Tight" Reservoir Well Report No 5
Oilex Ltd advises that as at 23:30 Indian StandardTime on 5th July, 2011 the Cambay-76H horizontal well has been drilled to atotal depth of 2,740 metres and the completion string has been runsuccessfully. The drilling rig will now be demobilized in preparation formobilizing the multi-stage fracture stimulation equipment and related services.Report date 5th July 2011 Status Preparing to demobilise drilling rig in preparation for fracture stimulation operations Past Week's Operations * Drilled remainder of 8 ½" horizontal hole from 2,596 to 2,740 metres * Run completion string for multi stage fracture stimulation from 2,195 to 2,719 metres Objective Cambay Eocene "tight" reservoir Y Zone Total Depth (TD) 2,740 metres
Note: All depths refer to measured depth below rig rotary table ("MD")
Well log data indicated porous hydrocarbon-bearing intervals with elevated gas readings throughout the horizontal section drilled in the Y Zone.
After drilling the hole to Total Depth, the completion string for the plannedmulti-stage fracture stimulation program was successfully run in the horizontalwell section. The Black Pearl drilling rig will now be demobilised from thewell site so the high volume fracture stimulation equipment and relatedservices can be mobilised in preparation for carrying out the Y Zone fracturestimulation operations.
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] 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-lookingstatements include, but are not necessarily limited to, statements concerningOilex Ltd's planned exploration program and other statements that are nothistoric facts. When used in this document, the words such as "could", "plan","estimate" "expect", "intend", "may", "potential", "should" and similarexpressions are forward-looking statements. Although Oilex Ltd believes thatits expectations reflected in these are reasonable, such statements involverisks and uncertainties, and no assurance can be given that actual results willbe consistent with these forward-looking statements."
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