30th Sep 2008 07:00
30 September 2008
SUBJECT: OPERATIONS REPORT - OMAN AND INDIA
Oilex advises that drilling and testing operations continue in India and Oman:
* In Oman, the casing has been perforated in preparation for a cased hole
test (DST#1) over the interval 1290 metres to 1305 metres measured depth
(MD) in the Rahab sandstone. The Rahab sandstone was not considered a
primary or secondary objective in this well, however a positive log
response was observed and oil was circulated to the surface while drilling
this interval.
* At Cambay-19Z in India, a cased hole test (DST #3) of the EPIII and EPIV
primary reservoir zones has commenced. * Also at Cambay, rigging up operations have commenced at the Cambay 74 location. Sarha-2 appraisal well-OmanObjectives: Primary: Al Khlata Formation - oil Secondary: Haima Formation - oil Status: Current Depth: 1,430 metres Operations: Running DST #1. Comment: Sarha-2 was drilled to a depth of 1430 metres (MD) as a high angle well and 7" casing run. The interval 1290 metres to 1305 metres MD has been perforated and a surface pump is being installed in preparation for a production test of the Rahab sandstone. This zone exhibited a positive log response and oil was circulated to the surface while it was being drilled. Once the test is completed, this zone will be squeezed with cement and a 500 metre horizontal section drilled and completed in the well's primary objective, the deeper Al Khlata oil zone. Following completion, the intention is to commence a 120 day extended production test. The younger Gharif Formation, which exhibited good oil shows in Sarha-1 appears to water bearing from the evaluation of wireline logs in Sarha-2.
Cambay-19Z 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: Running cased hole DST #3 over the EPIII and EPIV primary reservoir zones. Operations: A total of 23 metres encompassing intervals from 1764-1776, 1785-1794 and 1796-1798 metres MD has been perforated in preparation for production testing the EPIII and EPIV reservoir intervals.
Cambay-74appraisal 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: Mobilising rig. Operations: Mobilisation of the Dewanchand rig to the Cambay-74 location is continuing. Comment: Cambay-74 well is located on the western flank of the Cambay high and will test all the identified reservoir intervals in a location where early wells flowed oil and gas. The well will
particularly
target the better sandstone development in the basal EPIV reservoir indicated by existing well data. This zone tested oil at rates up to 200 barrels per day in the recently drilled Cambay-19 well. Participants in the Oman Block 56 Exploration and Production Sharing Agreementare: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 ofOilex Ltd, Bruce McCarthy B.Sc. Hons. PhD (Geology) who has over 29 yearsexperience 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 of oil-in-place are reported inaccordance with the standard definitions set out by the Society of PetroleumEngineers, further information on which and a glossary of terms used inthe oiland gas industryis available at www.spe.org.
Basel EP-IV Depth Structure Map - view full report on Oilex website
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