13th Nov 2007 07:00
13 November 2007
DRILLING OPERATIONS UPDATE - INDONESIA AND INDIA
Pendalian-3 - West Kampar PSC - Indonesia
Oilex advises that following the perforation of the interval 279 - 292 metres below KB, swab testing operations have been completed at Pendalian-3 to determine the flow potential for Drill Stem Test (DST) #4. Once down-hole pressure gauges have been recovered, DST #5 will be conducted over the interval 241 - 252 metres below KB.
A total of 45 barrels of 25.2O API crude oil was recovered from swabbing operations during DST #4. The quality of the crude oil in Pendalian-3 contrasts with the reported recovery of heavier, 18.5O API crude oil from swabbing the equivalent zone in the nearby Pendalian -1 well. Reservoir pressure is very low, in accordance with the very shallow depth of the reservoir at the level of this test. While the operator has estimated a modest potential rate of 86 barrels per day from this zone from preliminary data, the presence of lighter crude is encouraging and further evaluation will be carried to confirm the Productivity Index for this reservoir and to determine whether this zone could be completed as a secondary producer.
Evaluation of pressure data from down-hole gauges recovered during DST #3 is continuing.
Participants in the West Kampar Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex Ltd 45% Sumatera Persada Energi (Operator) 55%
India - Cambay PSC - Drilling Program
The rig is continuing to mobilise to the Cambay-23Z location. Reports will resume when the well has spudded, expected to be about mid-December.
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:
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