Beach Petroleum Limited (ASX:BPT) Weekly Drilling Report Week ending 25 November 2009
Adelaide, Nov 26, 2009 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 25 November. Highlights of the week's activities include:
Egypt - North Shadwan Concession - Gulf of Suez
Production testing of NS377-3 (Beach 20%) Kareem Formation reservoir to provide data about fluid and reservoir properties has been completed. Flow rates during the test period were constrained to about 1,400 barrels of oil per day. Full production from the well is expected to commence during the second quarter of 2010, at initial rates in excess of 1,500 barrels of oil per day, as predicted earlier.
The NAFTA Rig-1 is being moved four kilometres southeast of the NS377-3 production well to test the oil potential of the Kareem Formation at the NS377-4 (Teen) location (Beach 20%). Teen, expected to spud on 1 December, is a near-shore exploration opportunity in the Gulf of Suez that, like the NS377-3 well, is to be drilled from an onshore location. Although located nearby and having a similar well name, the well will be evaluating a different structure to that which hosts the NS377-3 oil accumulation.
Arrowie Basin (South Australia) - Paralana-2 Geothermal Exploration Well
Logging information for Paralana-2 geothermal deep injector well (Beach, well Operator, earning 21%) has been acquired to 3,740m and is currently being evaluated. Operations are currently delayed by significant rain in the basin.
--------------------------------------Well Participants--------------------------------------Paralana-2 BPT* 21.00%GEL 178 PTR 69.00%Geothermal Exploration TRU 10.00%Arrowie Basin, SA-------------------------------------------------------Weekly Progress & Summary Primary Targets-------------------------------------------------------Report Time: 0600 hrs(CST)25/11/2009 Upper CannanaDepth: 4012m (TD) or Bolla BollanaOperation: Logging has been completed to 3740 metres. Operations are being delayed by significant rainfall.Progress: 0m--------------------------------------Well Participants--------------------------------------NS377-4 (TEEN) BPT 20.00%Oil Exploration BP* 50.00%North Shadwan TOE 30.00%Egypt-------------------------------------------------------Weekly Progress & Summary Primary Targets-------------------------------------------------------Report Time: 0600 hrs (local) 24/11/2009 Kareem FormationDepth:Operation: Rig move and rigging up.Progress:--------------------------------------Well Participants--------------------------------------NS377-3 BPT 20.00%Oil Development BP* 50.00%North Shadwan TOE 30.00%Egypt-------------------------------------------------------Weekly Progress & Summary Primary Targets-------------------------------------------------------Report Time: 0600 hrs(CST)25/11/2009 Kareem FormationDepth: 2872m (1792m TVDSS) TDOperation: Production testing has been completed and the rig is being moved to the NS377-4 exploration well location.Progress: 0m--------------------------------------Well Participants--------------------------------------Dullingari-36DW1 BPT 20.21%PPL 12 STO* 66.60%Gas Development ORG 13.19%C/E Basin, SA-------------------------------------------------------Weekly Progress & Summary Primary Targets-------------------------------------------------------Report Time: 0600 hrs(CST)25/11/2009 Patchawarra FormationDepth: 1586mOperation: A re-entry and deepening of an earlier oil producer; - drilling ahead in the Nappamerri Group.Progress: 1586m (s) Secondary Targets(*) OperatorBPT Beach Petroleum LtdORG Origin Energy Resources LtdBP BP Exploration (Delta)PTR Petratherm LtdTRU TRUenergy Pty LtdSTO Santos LimitedTOE TriOcean Energy
Contact
Hector Gordon
Chief Operating Officer
TEL: +61-8-8338-2833
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