15th Mar 2006 07:00
OILEX NLLevel 3, 50 Kings Park RoadWEST PERTH WA 6005Tel: (618) 9226 5577Fax: (618) 9226 210815 March 2006Alternative Investment MarketLondon UKDear Sir/Madam,RE: SURAT BASIN OPERATIONS - DONGA-3 COMPLETED AS OIL PRODUCEROilex NL is pleased to advise that the Donga-3 well has been successfullycompleted and is currently on production.The well was put on pump on March 11 and following a period of clean up flowand in line with expectations, total fluid production rates are beginning tostabilise at around 100-120 barrels per day of which 40-70 barrels per day is46 degree API light crude oil.Production performance will be closely monitored over the next month,particularly the oil/water ratio ("oil cut") and reservoir pressures, in orderto provide necessary data for full field development considerations.The Donga 3 well is located in ATP 805P Surat Basin, Queensland. Interests inATP 805P are as follows: ATP 805P Oilex NL (operator) 42.5% Bow Energy Ltd 42.5% Victoria Petroleum NL 15.0% Yours sincerely,Bruce McCarthyManaging DirectorFor further information please contact:Ray BarnesTechnical DirectorPhone: (+61 8) 9226 5577Email: [email protected] 1 of 1Level 2, 50 Kings Park Road West Perth Western Australia 6005 P.O. Box 588 West Perth Western Australia 6872 Telephone (61 8) 9226 5577 Facsimile (61 8) 9226 2108 email: [email protected] www.oilex.com.au ENDOILEX NLRelated Shares:
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