20th Oct 2008 07:00
20 October 2008
MIOCENE OIL FLOW IN CAMBAY FIELD INDIA
The appraisal program initiated recently in the western portion of the Cambay field has confirmed the oil potential of the shallower Miocene section through the results of the recompletion of an old well, Cambay - 64 and the initial results from Cambay - 74, which is currently drilling.
To date:
CAMBAY - 64 RECOMPLETION
Re-entry of existing well Cambay-64 and testing from a 2 metre interval of perforations in the Miocene Basal Sand (MBS) has yielded a flow of approximately 250 barrels per day of oil at a flowing tubing pressure of 660 psi.
The well has been choked back to prevent sand production as some wells completed in the MBS elsewhere in the area have produced sand. No sand has been produced from Cambay-64 and the choke is gradually being opened as testing continues.
Preliminary field analysis of the crude oil indicates an high quality light crude with a gravity of 38O API.
The crude is being trucked to a nearby refinery and sold along with the other produced crude from Cambay Field.
While the MBS has been a secondary objective in the appraisal drilling campaign, no oil resources were assigned to this target in Cambay Field volumetrics. Oilex anticipates that the commercial impact of this additional resource could be significant and will be addressed once Cambay-74 data are available.
The MBS is commonly an excellent reservoir and at a depth in this area of approximately 1400 metres, offers the potential for low cost development and early production from the Miocene.
CAMBAY - 74 APPRAISAL
Cambay-74 has reached a TD of 1603m in the 12 1/4" hole section. The well has been logged and 9 5/8" casing will be run.
The well is located approximately 400 metres to the north-west of Cambay-64 and has intersected a thicker MBS in the same reservoir compartment.
Wireline logs from Cambay-74 indicate the presence of hydrocarbons in the MBS, as well as additional hydrocarbon bearing zones in shallower Miocene sands.
Further evaluation of the Miocene interval including testing will be carried out in Cambay-74.
Participants in the Cambay Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex Ltd (Operator) 30% Oilex NL Holdings (India) Limited (100% owned by Oilex 15% Ltd) 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 9485 3200 (Western Australia)
Archie Berens Director Pelham Public Relations Tel. +44 20 7743 6679 (United Kingdom)
RFC Corporate Finance Ltd acts as Oilex's Nominated Adviser, contact Stuart Laing +618 9480 2506.
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 29 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 & EAGE. Estimates of oil-in-place are reported in accordance with the standard definitions set out by the Society of Petroleum Engineers, further information on which and a glossary of terms used inthe oil and gas industryis available at www.spe.org.
Basal Miocene Depth map - showing appraisal well locations and Cambay-64 (please see full report on Oilex website)
vendorRelated Shares:
OEX.L