5th Feb 2007 07:00
5 February 2007
OILEX LTD
WEEKLY OPERATIONS UPDATE - CAMBAY FIELD TESTING
Oilex Ltd is pleased to advise of progress on the Cambay 72 re-entry and test programme in Cambay Field, Gujarat, India.
John Energy's rig "John-50-V" commenced moving to the Cambay-72 well-site on January 20 2007 and initiated re-entry operations on January 22 on a 12 hour day basis.
Since last week's report, wireline logging operations have been completed, the completion assembly was run, surface equipment tested and intervals 1761.5-1760.5 Measured Depth (MD), 1759.5-1756.5 MD, 1754.5-1751.0 MD and 1748.0-1745.5 MD perforated. Surface measurements indicate that the well has commenced flowing oil and gas. The well will be observed for several days while the natural flow potential of the Eocene reservoir is assessed before initiating stimulation operations.
Depending on the results of this test of the Eocene section, a testing program may also be carried out on shallower Oligocene reservoirs which had indications of hydrocarbons while drilling.
Participants in the Cambay Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex Ltd (Operator) 45% Gujarat State Petroleum Corporation Ltd 55% (GSPC) Yours sincerely,Bruce 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)
OILEX LTDRelated Shares:
OEX.L