13th Oct 2008 07:00
13 October 2008
SARHA-2 DRILLS EXTRA 200 METRES OF HORIZONTAL OIL PAY FOR EXTENDED PRODUCTION TEST, OMAN
Oilex advises:
* The Sarha-2 well in Block 56, Oman, has completed drilling an horizontal well in the Sarha Field to a measured depth of 2138 metres, giving an horizontal intersection of approximately 700 metres in the Al Khlata reservoir. * Drilling was extended by an additional 210 metres to incorporate approximately 200 metres of additional horizontal oil pay in good quality sands interpreted beyond the planned total depth of 1930 metres. * Production casing including screens to reduce sand production will now be run and a progressive cavity pump installed in the well. * A short term production test will be conducted with the rig in place to determine the well's productivity and to ensure that the installed pump has adequate capacity for the well. * Temporary surface production facilities will be installed after the rig is released and an extended well test will be conducted for an initial 120 day test period. * Arrangements are being finalised to truck the produced oil to a nearby (25 kms) pipeline terminal for transport to a crude export terminal on the coast.
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% 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 of oil-in-place are reported in accordance with the standard definitions set out by the Society of Petroleum Engineers, further information on which and a glossary of terms used inthe oil and gas industryis available at www.spe.org.
vendorRelated Shares:
OEX.L