Sydney, Sep 9, 2008 AEST (ABN Newswire) - Mosaic Oil (ASX:MOS)(PINK:MSAOF) Announce the weekly operations update for Taylor-19 and Freneau-1 in the Surat-Bowen Basin, Qld
Taylor-19 (PL 16 - MOS 100%)
Taylor-19 has been cased and cemented with 5-1/2" production casing string and suspended for future completion as a gas producer.
The well will be completed for production within 3 weeks using a workover rig moving into the Silver Springs area this week and is expected to be connected to the Taylor gathering network as early as the end of September 2008.
Freneau-1 (ATP 709P - MOS 100%)
The Century Rig 7 move to the Freneau-1 location, delayed by wet weather, will commence today. Freneau-1 is expected to be spudded on the weekend.
It is expected, on a trouble free basis, to take approximately 16 days to drill and evaluate the well, which has a planned total depth of 2400 metres.
Freneau-1 is a gas/condensate exploration well with the Tinowon Sandstone as the primary target and the Rewan Formation as the secondary target. The Freneau Prospect is located approximately 6 km east of Taylor-11.
The Freneau Prospect Tinowon Sandstone primary target has the potential to contain an estimated mean recoverable gas resource of 28.9 BCF in the Mean case, and up to 71.2 BCF in the P10 case.
Contact
Mosaic Oil:
Lan Nguyen
Managing Director
Tel: +61-2-9247-9324
Media:
Bill Kemmery
Fortbridge
Tel: +61-2-9331-0655
Mob: +61-400-122-449
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