28th Nov 2008 07:00
28 November 2008
OMAN BLOCK 56 DRILLING UPDATE
The exploration drilling program in Oman Block 56 is continuing and is anticipated to be completed in early January 2009. The rig has mobilised to the location of Al Jumd-1 in the northern part of the block and is expected to spud within 5 days.
Sarha-2
The Sarha-2 well in Block 56, Oman, was recently completed as a horizontal production well. An initial test was run over an extended interval and data obtained from that test indicate that the oil is of a heavier nature than that encountered in Sarha-1. Consequently, the well has been suspended pending further technical evaluation and the extended production test has been postponed.
Lathab-1
The rig moved to the location of Lathab-1 exploration well on 8 November and that well was drilled to a depth of 1,635 metres with oil shows at various levels. The reservoir intervals are thinner than anticipated and the well was plugged and abandoned with oil shows on 25 November.
Figure 1. Oman Block 56 Location Mapwith Well Locations and Prospects (please see Oilex website for full report)
Al Jumd-1 The rig is now moving to the location of Al Jumd-1 in the northern sector of the block. The well will be drilled to a planned total depth of 1,500 metres to test Al Gharif, Al Khlata and Huqf Formation objectives.
Participants in the Block 56 Exploration and Production Sharing Agreement are:
Joint Venture Party Participating Interest Oilex Oman Limited (Operator) 25% Videocon Industries Limited 25% GAIL (India) Limited 25%
Hindustan Petroleum Corporation Limited 12.5%
Bharat PetroResources Limited 12.5% 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.
vendorRelated Shares:
OEX.L