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BLACK ROCK MINING LIMITED — Capital/Financing Update 2011
Oct 5, 2011
64531_rns_2011-10-05_2bad39c8-3a13-498f-9bdc-868341ee706d.pdf
Capital/Financing Update
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6 OCTOBER, 2011
ASX Announcement
NEW STANDARD - LAWFORD #1 DRILLING UPDATE
(ASX: NSE)
New Standard Energy Limited ( New Standard ) provides the following weekly update on drilling operations at the Lawford-1 well as at 06:00hrs, 6 October 2011 (AWST).
The Lawford #1 well is located in EP 417. New Standard has a 65% operated interest in this permit via its wholly owned subsidiary New Standard Onshore Pty Ltd which is the designated operator of EP 417. Buru Energy (35% working interest) is acting as the operator for the Lawford #1 deepening on behalf of the EP 417 joint venture under a delegation agreement with New Standard. Green Rock Energy Limited is earning a 15% interest from New Standard through the deepening of the Lawford #1 well and associated activities.
Since the last progress report, the well has been drilled ahead in 6” hole to a measured depth of 1,725 metres.
The well is being drilled by Century Rig #7.
In accordance with its policy of releasing weekly drilling progress reports, the Company expects to issue a further drilling progress report on 13 October 2011, subject to any material events occurring in the meantime.
ENDS
For further information, please contact:
Sam Willis Cameron Morse Managing Director FTI Consulting Ph: + 61 8 9481 7477 Ph: + 61 8 9386 1233 email: [email protected] email: [email protected]
Competent Person: The information in this announcement is based on information reviewed by Dr Mark Hagan (BSc Hons, PhD) who is a Petroleum Geologist and Geophysicist with more than 35 years experience in the industry. Dr Hagan is Technical Director of New Standard Energy and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
New Standard Energy Ltd. | ACN 119 323 385
Level 3, 33 Richardson St. West Perth WA 6005 | PO Box 1542. West Perth WA 6872
T: + 61 8 9481 7477 | F: +61 8 9486 7670 |www.newstandard.com.au
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LAWFORD-1 DEEPENING
PERMIT
WELL LOCATION
NEW STANDARD INTEREST
DATE OF PROGRESS REPORT PROPOSED TOTAL DEPTH
CURRENT DEPTH
PROGNOSED TIME TO TOTAL DEPTH SPUD DATE DAYS SINCE SPUD
CURRENT TARGET FORMATION
OPERATIONS SINCE LAST PROGRESS REPORT
HYDROCARBON INDICATIONS
FORWARD OPERATIONS
The Lawford-1 well is located in exploration permit EP 417 (refer location map below)
Latitude: 19° 59’ 33.8”S Northing: 7787570m Longitude: 126° 37’ 51.3”E Easting: 252115m[1]
New Standard holds a 65% interest in the well, diluting to 50%
06:00hrs, 6 October 2011 (AWST)
2,780m
1,725m
13 days
27 September 2011
9 days
Laurel Formation
Since the last progress report, the well has been drilled ahead in 6” hole to a measured depth of 1,725 metres.
None. None predicted.
The well is currently drilling ahead to the Laurel Formation.
LOCATION MAP – LAWFORD-1 DEEPENING
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New Standard Energy Ltd. | ACN 119 323 385
Level 3, 33 Richardson St. West Perth WA 6005 | PO Box 1542. West Perth WA 6872
T: + 61 8 9481 7477 | F: +61 8 9486 7670 |www.newstandard.com.au