3rd Aug 2011 07:00
3 August 2011
Cambay-76H "Tight" Reservoir Well Report No 9
Oilex Ltd advises that the first stage of the large volume multi-stage fracture stimulation program of the horizontal Cambay-76H well has been completed successfully and the second stage is now under way.
The fracture stimulation program comprises eight stages with two fracture initiation points per stage. After completion of the fracture stimulation program the well will be flowed to surface to remove stimulation fluids from the well bore (well clean-up phase) and then 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 Eocene "tight" reservoirs inthe onshore Cambay Production Sharing Contract ("PSC"), Gujarat, India.Report date 2 August 2011 Status Conducting fracture stimulation operations Past Week's Operations * Rigging up fracture stimulation equipment * Testing wellhead equipment, replace faulty high pressure valves * Prepare well bore and conduct mini fracture stimulation test prior to first stage large volume fracture stimulation 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-lookingstatements include, but are not necessarily limited to, statements concerningOilex Ltd's planned operations 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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