Perth, Oct 20, 2008 AEST (ABN Newswire) - Empire Oil & Gas NL (ASX:EGO)(PINK:EOLGF) is pleased to announce that operations at Lake MacLeod-1 have recommenced with the retrieval of stuck pipe and the running and cementing of 9 5/8" (244mm) casing to 155 metres.
The current operation is installing the Braidenhead and installing Blow Out Prevention equipment prior to pressure testing.
The Future Operations is to drill out (244mm) 9 5/8" shoe with 8 1/2" hole and drill ahead to the reservoir objectives.
LAKE MACLEOD-1 PETROLEUM EXPLORATION WELL EP 439/461, WESTERN AUSTRALIA
1. Well Name/Permit Lake MacLeod-1 - EP 439/461, Western Australia
2. This report is for the Period: The period 0600 hrs 19 October 2008 to 1800 hrs 19 October 2008
3. This ASX Release Time and Date: 1100 hrs WST 20 October 2008
4. Report No: 2
5. Spud Date/Rig: 30 September 2008
6. Days since Spud: 10 (There were 9 days crew break from 7 to 15 October 2008 - recommenced operations on 16 October 2008)
7. Location of Well: Latitude 240 35' 26.03"S Longitude 1130 32' 19.38"E 2kms north east of Shot Point 1500 seismic line CG83-01
8. Elevation:
G.L. 2 metres
RT. 3 metres
RT to GL 5 metres
9. Proposed Total Depth: 1,000 metres
10. Targets: Gneudna Formation Carbonates, 535m to 1000 metres
11. Present Depth: At 1800 hrs 19 October 2008, had drilled from 151m to 160.13 m to run 9 5/8" casing
12. Geological Summary:
At 1800 hrs 19 October 2008 at 160.13metres
0 - 75 metres - Tertiary Limestones
75 - 151 metres - Cretaceous aged Limestones of Korojon Calcarenite
151m - 160.13m - Sandy limestones of Korojon Calcarenite/Toolonga Calcilutite
13. Hydrocarbon Indications; None anticipated in this shallow section.
14. Operations since last Report: Crews had 9 day break. Fabricated tool to free stuck bottom hole assembly. Backed off BHA. Washed over and freed pipe. Latched on and retrieved drill string. Ran back in hole to bottom at 151m and drilled 12 1/4" hole to 160.13m. Ran and cemented 9 5/8" casing to 155 m. Wait on cement and clean up tanks, make up new mud. Commence installation of BOP stack. Prepare to pressure test.
15. Current Operations: Installing Braidenhead and BOP.
16. Future Operations: Install BOP's and pressure test. Conduct formation integrity test beneath 9 5/8" shoe. Drill ahead 8 1/2" hole to reservoir objectives.
17. Prospect Description: Good oil-prone source rocks are present in organic-rich marine shales nearby the Late Devonian Gneudna Formation. The Devonian section in the Quobba-1 well is predominantly shale so sealing of the reservoir in Lake MacLeod-1 are interpreted to be present. There were also good oil and gas shows throughout the Gneudna Formation in Quobba-1 demonstrating there are porous and permeable reservoirs in dolomites of the Gneudna Formation. Structures drilled in the Gascoyne Sub Basin to date such as Quobba-1, Pendock-1D and Wandagee-1 were all formed during the Miocene which post dates primary hydrocarbon migration and are dry.
The Lake MacLeod structure is interpreted to have formed during the Devonian and pre date primary hydrocarbon migration from the Gneudna Formation source rocks which generated their hydrocarbons during the Late Carboniferous to Permian. It is important to note that none of these early aged structures have been drilled in the Gascoyne Sub basin, Carnarvon basin.
The large Lake MacLeod Prospect covers an area of 27,500 hectares (70,000 acres). Estimated potential recoverable reserves for the larger Lake MacLeod-1 Prospect if the structure is filled to its maximum spill point are in the order of 150 million barrels. Potential recoverable oil reserves within the Lake MacLeod structure in the EP 461 Permit are more conservatively calculated using a 5000 hectare closure at the Top Nannyarra Sandstone and are estimated to be in the order of 30 million barrels of oil.
18. Participants in the well:
Empire Oil & Gas N.L. (Rough Range Oil Pty Ltd - Operator)- 30.356%
Longreach Oil Limited - 9.352%
Indigo Oil Pty Ltd - 4.676%
Falcore Pty Ltd - 2.596%
Vigilant Oil Pty Ltd - 0.52%
Jurassica Oil & Gas Plc - 35%
Black Fire Energy Limited - earning 7.5% by Farmin from the J.V.
DVM International Limited - earning 10% by Farmin from the J.V.
Contact
Mr Craig Marshall
Managing Director
Phone: +61-8-6389-2687
Facsimile: +61-8-9386-6812
E-mail: cmarshall@empireoil.com.au
| ||
|
