Perth, Feb 10, 2009 AEST (ABN Newswire) - Sun Resources NL (ASX:SUR)(PINK:SNRDF) is pleased to report that it has been advised by the operator, Mueller Exploration Inc that the Ammann Heirs Gas Unit #1 well (AHGU #1) on the Meek Prospect, in Wharton County of southern Texas, was spudded on 6th February 2009. The AHGU #1 well targets gas and condensate potential of 16 bcfg with 269,000 bo (18 bcfge) in a prospect that lies within the productive Wilcox trend of the onshore Gulf of Mexico.
The Meek Prospect is relatively low risk because it has been keyed off an adjacent Middle Wilcox (Meek sands) producing field using 3D seismic. Seismic attributes indicate the presence of hydrocarbons conforming to the prospect structure in stacked, Middle Wilcox (Meek) sands. Nearby production wells in Meek sands are good analogues and have produced similar order of reserves to that being targeted by Sun Resources at the Meek Prospect in 4 to 5 year production periods.
The planned total depth ("TD") of the well is approximately 3,780m and at last report the well was drilling ahead below 774 metres vertical depth. TD is expected in approximately 30 days, The market will be advised Tuesday morning each week of the progress of the well and at more regular intervals when significant events occur in the targeted Meeks sands below 3,500m depth.
Commenting on the Meek Prospect, Mr Matt Battrick, Managing Director of Sun Resources stated; "The Meek Prospect lies adjacent to a producing field at the same reservoir level and has 3D seismic attributes indicative of the presence of hydrocarbons in the structure. It is therefore considered a relatively low risk prospect. If successful, this well has the potential to significantly add to Sun Resource's reserves, production and most importantly USA cashflow."
Contact
Matt Battrick
Managing Director
Sun Resources NL
Tel: +61-8-9388-6501
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