6th Nov 2007 07:00
06 November 2007
DRILLING OPERATIONS UPDATE - INDONESIA AND INDIA
Indonesia - West Kampar PSC-Pendalian-3:
The testing program is now in progress at the Pendalian-3 well. Wireline data confirm that reservoir quality is excellent and 3 cased-hole drill stem tests of the likely oil zones in the Sihapas Sandstone section are expected to start this week. The program is designed to test a series of sandstone units which are established producing reservoirs at these depths in nearby fields. The first test has been completed and the remaining test intervals are:
DST Potential Oil Zone(Metresbelow KB) #3 - Firm 460 - 464 & 466 - 471 #4 - Firm 279 - 292 #5 - Firm 241 - 252
The zones that will be tested by DST's #3, #4 and #5 zones are analogous to zones that tested oil from Pendalian-1.
As anticipated, based on the interpretation of the wireline logs, the first test, DST #1, over the deepest interval has produced fresh water although there were minor indications of oil. The DST #1 and #2 equivalent intervals in nearby wells did not flow oil and DST #1 has confirmed that the interval is a fresh water zone. DST #2 has been deleted from the program.
Participants in the West Kampar Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex 45% Sumatera Persada Energi (Operator) 55%
India - Bhandut PSC - Bhandut-2Z:
The Bhandut-2Z sidetrack well has been suspended and the rig has been released. Operations on Bhandut Field will resume when new well locations have been approved and built, by which time the new data acquired from Bhandut-2Z will have been fully integrated into the interpretation of the 3D seismic data set.
Participants in the Bhandut Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex(Operator) 40% Gujarat State Petroleum Corporation 60%
India - Cambay PSC - Drilling Program
The newly built rig that has been contracted for a 9 month term to drill the Cambay wells has arrived in India and is now in the process of clearing formal procedures and mobilising to the location of Cambay-23Z. This rig has significantly greater capacity to drill high angle deviated wells and wells to a greater depth, both of which functions are required at Cambay Field and will be very beneficial to the future drilling program on Bhandut Field for deeper targets and long reach production wells.
The Cambay-23Z well is located to test Oligocene and Eocene potential gas-bearing sandstone reservoirs. The deeper Eocene interval has an apparent direct hydrocarbon indicator of gas associated with it at this location. Cambay-23Z is the first of 6 wells on Cambay Field that are approved for the next phase of drilling.
Participants in the Cambay Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex (Operator) 45% Gujarat State Petroleum Corporation 55% Yours sincerely,B. H. McCarthyManaging Director
For further information, please contact:
Ray Barnes Technical Director, Oilex Ltd Tel. +61 8 9226 5577 (Western Australia)
Archie Berens Director, Pelham Public Relations Tel. +44 20 7743 6679 (United Kingdom)
The information in this report has been compiled by the Managing Director of Oilex Ltd, Bruce McCarthy B.Sc. Hons. PhD (Geology) who has over 28 years experience in petroleum geology and Ray Barnes, B.Sc. Hons. the Technical Director of Oilex Ltd who has over 35 years experience in petroleum geology and is a member of the AAPG.
RFC Corporate Finance Ltd acts as Oilex's Nominated Adviser - contact Stuart Laing +618 9480 2506.
OILEX LTDRelated Shares:
OEX.L