Melbourne, Oct 17, 2008 AEST (ABN Newswire) - Marion Energy Limited (ASX:MAE)(PINK:MAEJF) is pleased to advise of the following Progress Report regarding the drilling of Oman 10-19 well at Clear Creek.
The Oman 10-19 well at Clear Creek is currently drilling ahead and on current drilling rates is expected to reach the target zones in approximately 7 to 10 days from today's date.
This well is a directionally drilled well which will be drilled to an approximate depth of 5700 feet and will test the Ferron sandstone reservoir as its primary target.
The well is the first to be drilled by Marion in the central part of the Clear Creek Unit which is the part of the Unit where several of the original wells were drilled. The Company believes that because the original wells were drilled on 1000 acre spacing units substantial reserves are yet to be recovered from this part of the Unit.
This well will help to quantify the extent of reserves yet to be recovered and to better define the level of proved (1P) reserves in the Unit.
Contact
North American Contact:
Mr Jeff Clarke
Managing Director & CEO
Ph: +1-214-244-7690
Email: jclarke@marionenergy.com
Australian Contact:
Mr Peter Collery
Executive Director and Company Secretary
Ph: +61-3-8862-6466
Email: peter@marionenergy.com.au
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