2nd Sep 2008 07:00
02 September 2008
SUBJECT: OPERATIONS REPORT - INDIA
Oilex advises that Cambay-73, the third well in the Cambay Field appraisalprogram, is at a depth of 2,030 metres and conducting an open hole drill stemtesting ("DST") program. Pressure and flow data collected during this programwill be further evaluated to determine the potential for production atcommercial rates from the tested zones.
The workover rig is continuing operations on Cambay-19Z for the cased hole testing program of the extensions to the Basal EP IV oil zone.
Cambay-19Z appraisal well Objectives: Primary: Oligocene OS II - gas Eocene EP III and EP IV - oil Basal EP IV - oil Secondary: Miocene Basal Sandstone - gas Deccan Fractured Basement - oil Status: Daylight only operations on the workover rig are continuing in preparation for cased hole DST #2. Operations: Most essential equipment arrived at the Cambay-19Z location and is being installed in preparation for DST#2. Test intervals have been selected over a number of separate units of variable thickness in the Basal EPIV section. Comment: The Basal EP IV zone is present in at least three old wells on the Western High Block. These old wells were either not tested or were poorly evaluated and appear to have a similar log response to the zone that was successfully tested in Cambay-19Z. Preliminary indications from seismic and the analogous well logs are that the Basal EP IV may extend across the Western High Block. Cambay-73 appraisal well Objectives: Primary: Oligocene OS II - gas Eocene EP III and EP IV - gas / oil Basal EP IV - oil Secondary: Miocene Basal Sandstone - gas Deccan Fractured Basement - oil Status: Spud: 03:00 hrs 25 July 2008 Current Depth: 2,030 metres Total Depth (TD): 2,205 metres (planned) Operations: A program of open hole drill stem tests are currently being run over the Basal EPIV and EPIII/ EPIV intervals to determine the hydrocarbon flow characteristics of a number of anomalous zones. On conclusion of the testing program, casing will be run and cemented and the well will be drilled through the Deccan Volcanics. Comments: Cambay-73 is a vertical well that has been located to drill the OS II and EP III-IV primary objectives on the crest of the structure near to the fault that separates the Western High Block from the Basin Gas Area. The well is also designed to intersect the Basal EP IV oil zone on the Western High Block at a favourable structural location.
Figure 1. Cambay-73 Drilling Summary (see report on Oilex website)
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% A glossary of terms used in the oil and gas industry and useful links to otherglossaries can be found at http://www.spe.org/spe-app/spe/industry/reference/glossary.htmhttp://www.spe.org/spe-app/spe/industry/reference/glossary.htm, thewebsite of the Society of Petroleum Engineers.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 ofOilex Ltd, Bruce McCarthy B.Sc. Hons. PhD (Geology) who has over 29yearsexperience in petroleum geology and Ray Barnes, B.Sc. Hons. the TechnicalDirector of Oilex Ltd who has over 35 years experience in petroleum geology andis a member of the AAPG & EAGE. Estimates ofoil-in-place arereported inaccordance with the standard definitions set out by the Society of PetroleumEngineers, further information on which is available at www.spe.org.
vendorRelated Shares:
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