Melbourne, Nov 14, 2008 AEST (ABN Newswire) - Marion Energy Limited (ASX:MAE)(PINK:MAEJF) advises of the following Progress Report regarding drilling of Oman 10-29 well at Clear Creek.
NOTE: in earlier ASX releases this well was referred to in error as the Oman 10‐19 well.
HIGHLIGHT:
Oman 10-29 well has reached target depth and completion and testing operations will commence as soon as the drilling rig is moved off location.
DETAILS:
Drilling of the Oman 10-29 well at the Company's Clear Creek unit has reached total depth of approximately 5,700 feet. Once the drilling rig has moved off location, completion operations will commence. This well has been drilled as a directional well with testing of the Ferron sandstone reservoir as its primary target. The well is the first 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.
Further information will be released to the ASX as completion operations are progressed.
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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