2nd Oct 2007 07:00
2 October 2007
DRILLING OPERATIONS UPDATE - INDONESIA & INDIA
Indonesia - West Kampar PSC - Pendalian-3 - Oilex Ltd advises that surface casing has been set at a depth of 76.2 meters and preparations are being made to drill ahead in 12 1/4 inch hole at the Pendalian-3 well located in the West Kampar Production Sharing Contract Area, Central Sumatra, Indonesia. Drilling operations are planned to take 13 days following which the well will be cased and a comprehensive 14 day multi-zone testing program will be undertaken.
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 - Oilex advises that following some weather related delays, the Quipo drilling rig has completed mobilisation to the Bhandut 2 well location and is being rigged up in preparation for re-entering and abandoning this well prior to commencing the Bhandut 2Z appraisal/production well.
Participants in the Bhandut Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex (Operator) 40% Gujarat State Petroleum Corporation 60% 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 26 years experience in petroleum geologyand Ray Barnes, B.Sc. Hons.the Technical Director of Oilex Ltdwho 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