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CORELLA RESOURCES LTD — Regulatory Filings 2012
Jul 29, 2012
64703_rns_2012-07-29_387c349f-2f55-435c-a219-cecc9676a9e3.pdf
Regulatory Filings
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26 July 2012
ASX Announcement
Exoma Spuds Katherine West-1 Conventional Oil Exploration Well
Exoma Energy Limited (ASX: EXE) is pleased to announce that it has spudded Katherine West-1 in ATP 999P, the first conventional oil well of the Galilee Joint Venture’s 2012 exploration program. Katherine West-1 will be drilled to core and test the Adori and Hutton oil reservoirs discovered in Katherine-1.
Katherine West-1 is located approximately 100 metres from the Katherine-1 well site (see attached map).
The well will provide a definitive test of an indicated resource of up to 60 million barrels of oil in place: P50 estimates 13.7 million barrels in the Hutton sandstone and 46 million barrels in the Adori sandstone.
The well will be tested using a wireline Flow Rate Test (RFT) tool to establish oil flow rates and obtain oil samples. If wireline testing establishes producible oil, the well will be completed and suspended for future production testing.
| Well Name | Katherine West-1 |
|---|---|
| Permit | ATP 999P |
| Location | GalileeBasin,approximately70kmsouthwestofLongreach,Queensland. |
| Target | Primary Target: Conventional oil in the Jurassic Hutton sandstones.Secondary Target: Conventional oil in the Jurassic Adori sandstone.The well will be rotary drilled to the top of the reservoir formations.Both reservoirs will be cored and the well will be logged.The oil formations will be tested with a wireline FRT tool, with aconventional Drill Stem Test tool as a backup. |
| Planned Depth | Top Adori Sandstone: 1046 mTop Hutton Sandstone: 1129 mPlanned total depth: 1184 m |
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Exoma has a 50% beneficial interest in both ATP 999P and the Katherine West-1 well. CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farmin whereby CNOOC provides the first $50 million of joint venture expenditures on Exoma’s five Galilee Basin ATP’s.
FURTHER INFORMATION
Rob Crook Chief Executive Officer +61 7 3226 5600
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