22 Apr 2008 07:00
22 April 2008
SUBJECT: OPERATIONS REPORT - INDIA AND OMAN
INDIA
Oilex advises that the Cambay-23Z well has reached total depth of 2,100 metres measured depth and preparations are being made to run casing prior to conducting a drill stem test (DST) over the EP IV primary objective.
During the past week, cores were cut in the EP IV and wireline logs were run over the Eocene section. Indications from logs are that the EP IV is gas-bearing and a cased-hole DST will be conducted over the interval 1,961m - 2,005m.
Figure 1 CAMBAY23Z Schematic well diagram.(see report posted on Oilex website)
Participants in the Cambay Production Sharing Contract are:
Joint Venture Party Participating Interest Oilex Ltd (Operator) 30% Oilex NL Holdings(India)Limited(100% owned by 15% Oilex Ltd) Gujarat State Petroleum Corporation 55%
OMAN
Ghadaq-1 well, the second of a 3 well exploration program in Block 56, Oman has been plugged and abandoned as an oil discovery. The rig has been released and is mobilising to the location of Alyanbou-1, the third well in the first phase of the exploration drilling program. Alyanbou-1 is a wildcat exploration well testing a simple structural play with an estimated unrisked resource potential of 10-375 mmstboip (135 mmstboip mean).
Figure 2. Well locations on top Natih Fm depth map. (see report posted on Oilex website
Participants in the Block 56 Exploration & Production Sharing Agreement are:
Joint Venture Party Participating Interest Oilex Oman Limited(Operator) 25% Videocon Industries Limited 25% GAIL (India) Limited 25% Hindustan Petroleum Corporation Limited 12.5% Bharat Petroleum Corporation Limited 12.5% Yours sincerely,B. H. McCarthyManaging Director
For further information, please contact:
Ray Barnes Technical Director, Oilex Ltd Tel. +61 8 9226 5577 (Western Australia)
Archie Berens Director, Pelham Public Relations Tel. +44 20 7743 6679 (United Kingdom)
RFC Corporate Finance Ltd acts as Oilex's Nominated Adviser - contact Stuart Laing +618 9480 2506.
The information in this report has been compiled by the Managing Director of Oilex Ltd, Bruce McCarthy B.Sc. Hons PhD (Geology) who has over 29years experience in petroleum geology and Ray Barnes, B.Sc. Hons the Technical Director of Oilex Ltd who has over 35 years experience in petroleum geology and is a member of the AAPG and EAEG. Estimates of oil-in-place are reported in accordance with the standard definitions set out by the Society of Petroleum Engineers, further information on which is available at www.spe.org.
vendor