9th Nov 2007 07:00
09 November 2007
PENDALIAN-3 PRELIMINARY TEST RESULTS
Pendalian-3 - West Kampar PSC - Indonesia
Oilex advises that following the perforation of the interval 460- 464 & 466 - 471 metres below KB and a brief period of natural flow of 330 API crude oil, swabbing operations have now been completed at Pendalian-3 to determine the flow potential for Drill Stem Test (DST) #3. Downhole pressure gauges are being recovered before moving to DST #4 to be conducted over the interval 279 - 292 metres below KB.
The operator, Sumatera Persada Energi, has provided a preliminary estimate of the Productivity Index for this zone of 2.32 barrels per day per psi measured from the test which, given an estimated reservoir pressure of 569.16 psi, indicates that the maximum flow potential from this well is 1285 barrels per day and suggests that production rates in the range 700-900 barrels of oil per day are possible once artificial lift is installed. Further analysis of down hole data will be carried out to confirm these preliminary results.
Note that due to the shallow depth of the reservoir and low volume of associated gas, production from the Sihapas Sandstone oilfields in adjacent areas is carried out by installing beam pumps from inception to provide artificial lift.
Initial flow rates confirm the excellent Sihapas Sandstone reservoir quality interpreted from wireline logs for this 9 metre perforated interval.
Participants in the West Kampar Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex Ltd 45% Sumatera Persada Energi (Operator) 55% 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)
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 28 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.
RFC Corporate Finance Ltd acts as Oilex's Nominated Adviser - contact Stuart Laing +618 9480 2506.
OILEX LTDRelated Shares:
OEX.L