23rd Sep 2008 07:00
23 September 2008
SUBJECT: OPERATIONS REPORT - OMAN AND INDIA
Oilex advises that drilling and testing operations continue in India and Oman:
* In Oman, Sarha-2 is drilling ahead at 1,040 metres measured depth (MD) after reaching total depth of 1,924 metres MD in the pilot hole. A cased hole production test is now planned for a shallower 12 metre oil sand above the Al Khlata Formation that was not encountered in Sarha - 1 before drilling the 500 metre horizontal section in the Al Khlata oil zone. * In India, Cambay-73 has been cased and suspended. A decision on fracture stimulation and further testing will be made after evaluation of the relevant data. * At Cambay-19Z, the rig is preparing for a cased hole test (DST #3) of the EPIII and EPIV primary reservoir zones. The results of the cased hole test (DST #2) of zones within the basal EPIV which was conducted during the week are being evaluated.
Sarha-2 appraisal well - Oman
Objectives: Primary: Al Khlata Formation - oil Secondary: Haima Formation - oil Status: Current Depth: 1,040 metres preparing to drill horizontal section Operations: Drilling ahead in 8 1/2" hole. Comment: Sarha-2 is drilling at a high angle well as the well trajectory is set up to drill a 500 metre horizontal section for an extended production test of the Al Khlata oil zone. Once casing has been run at the "heel" of the horizontal section, a cased hole test is planned for an interpreted 12 metre oil sand intersected above the Al Khlata. This test is designed to confirm the inferred excellent reservoir characteristics of this sand and to determine the reservoir fluid properties.
Cambay-73 appraisal well - India
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: Total Depth: 2,435 metres Operations: Cambay-73 has been cased and suspended pending a final decision on the completion strategy for this well which may include fracture stimulation of oil and gas bearing zones. The rig is in the process of moving to the Cambay-74 location. There is some potential for delay due to heavy monsoonal rains.
Cambay-19Z appraisal well- India
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 are continuing in preparation for cased hole DST #3
Operations: Preparations are underway to test a total of 25 metres of the
EPIII and EPIV reservoir where positive indications of hydrocarbons have been interpreted from logs. Data acquired during the Basal EP IV cased hole test program (DST #2) are being evaluated to prepare a final completion strategy for this well which may include a fracture stimulation of the zones interpreted to be oil bearing.
Participants in the Oman 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%
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 ofoil-in-place arereported in accordance with the standard definitions set out by the Society of Petroleum Engineers, further information on which and a glossary of terms used in the oil and gas industryis available at www.spe.org.
vendorRelated Shares:
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