13th Jul 2011 07:00
13th July 2011
Cambay-76H "Tight" Reservoir Well Report No 6
Oilex Ltd advises that operations are continuing to demobilise the Black Pearl rig and associated drilling equipment.
Mobilization of the equipment required to conduct the large volume multi-stagefracture stimulation of the Y Zone tight gas reservoir is near completion andrigging up is progressing. In total, 16 zones will be stimulated in 8 stagesover the length of the horizontal section of the well bore (approximately 600metres).Report date 12th July 2011 Status * Demobilising drilling rig * Mobilising fracture stimulation equipment Past Week's Operations Demobilising drilling rig 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")
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 exploration 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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