10th Jun 2008 07:00
10 June 2008
SUBJECT: OPERATIONS REPORT - INDIA
Cambay-19Z appraisal well - Oilex advises that current operations are drilling ahead to the Eocene EP III and IV primary objectives after setting 9 5/8" casing. A significant amount of time was spent during the past week in overcoming well bore problems related to overpressured gas bearing formation and the casing ultimately was cemented in place at 1,470 metres, 280 metres higher than planned for this well.
The evaluation of the wireline logs over the Basal Miocene and Oligocene OS II (secondary objectives in this well) intersected at 1,505 metres and 1,545 metres respectively indicates the presence of about 9 metres of gas-bearing pay in these sandstones that are of good reservoir quality, each with about 25% average porosity. The Cambay-19Z well is primarily designed to test the Eocene EP III and IV reservoirs on the Cambay Western High area where hydrocarbons have been identified in adjacent wells. The well will then be deepened to explore the fractured Deccan Basalt objective and overlying potential reservoir horizons to a total depth of about 2,350 metres.
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 15% Oilex Ltd) Gujarat State Petroleum Corporation 55%
A glossary of terms used in the oil and gas industry and useful links to other glossaries 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, the website 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 9226 5577 (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 29years 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 & EAGE. Estimates ofoil-in-place arereported in accordance with the standard definitions set out by the Society of Petroleum Engineers, further information on which is available at www.spe.org.
vendorRelated Shares:
OEX.L