23rd Oct 2007 07:00
23 October 2007
DRILLING OPERATIONS UPDATE - INDONESIA AND INDIA
Indonesia - West Kampar PSC-Pendalian-3:
The 81/2" hole at Pendalian-3 has been drilled to the planned total depth (TD) of 748 metres and wireline logging is being carried out. Preliminary indications while drilling are that the target Sihapas sands were intersected as expected with a number of potential oil zones indicated at depths similar to the nearby Pendalian-1 well. Once the logging program has been completed, the well will be cased and a comprehensive 14 day multi-zone testing program 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:
The Bhandut-2Z sidetrack well has been drilled to the planned core point at a measured depth of 1024.8m and a 9m core has been cut that will provide porosity, permeability and oil saturation information over the target "G" sand potential oil reservoir. Preparations are under way to resume drilling to TD (1,083m), at which point wireline logs will be run. Based on the wireline log interpretation, consideration will be given to testing the well and if successful, the most appropriate approach to completing the well for production.
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 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 StuartLaing +618 9480 2506. 2 ABN 50 078 652 632
Level 3, 50 Kings Park Road West Perth WA 6005Australia PO Box 588 West Perth WA 6872Australia
Telephone: (+61 8) 9226 5577 Facsimile: (+61 8) 9226 2108 Email:
[email protected] Web: www.oilex.com.au
OILEX LTDRelated Shares:
OEX.L