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EMERALD RESOURCES NL — Capital/Financing Update 2007
Aug 15, 2007
64849_rns_2007-08-15_4c09e018-af83-40cd-bc22-4b6ec489eb90.pdf
Capital/Financing Update
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ASX RELEASE
Release Date: 16 August 2007 To: Australian Stock Exchange Ltd No of Pages: 2 From: Eric Streitberg Re: Valentine-1 Update
Please find attached an update on the Valentine-1 exploration well.
The attached release will also be available on the Company’s website at; www.arcenergy.com.au.
For enquiries please contact:
For inquiries please contact: Eric Streitberg, Managing Director Telephone +61 8 9480 1300 Freecall 1800 337 330 Email [email protected]
About ARC Energy Limited ARC Energy is one of Australia’s pre-eminent energy companies, owning and operating oil and gas interests in the Perth, Canning and Bass basins, and internationally. Listed on the Australian Stock Exchange with a market capitalisation of approximately A$450 million, ARC has an aggressive onshore and offshore exploration and development drilling program. It continues to drive increased shareholder value by the early adoption of innovative technical and commercial practices.
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Level 4, 679 Murray Street, West Perth, Perth Western Australia 6005 Freecall: 1800 337 330 Tel: 61 8 9480 1300 Fax: 61 8 9480 1388 Website: www.arcenergy.com.au, Email: [email protected] , ASX Code: ARQ
VALENTINE-1 DRILLING REPORT CANNING BASIN, WESTERN AUSTRALIA
| Date: | 16 August 2007 | 16 August 2007 |
|---|---|---|
| Permit: | R1 | |
| Well Location: | Lat : 17o08’ 23.46”S Long : 123o42’ 32.40”E |
|
| Directional offset to target: |
0 metres | |
| Elevation: | Ground Level is 12.1mAMSL Rotary Table is 17.8mAMSL |
|
| Prognosed Depths (measured KB): |
Top primary objective | Total depth |
| 3,222 metres | 3,407 metres | |
| Prognosed drilling time: | 25 days | |
| Spud Date: | 1230 hrs, WST 12 August 2007 | |
| Present Depth: | 644 mMD | |
| Time of Reporting: | 0600 hrs, WST 16 August 2007 | |
| Operations Since Last Report: |
Set 13 3/8” casing at 112m | |
| Current Operations: | Drilling ahead 12 ¼” hole | |
| Hydrocarbon indications: | None | |
| Participants in the well (post earning): |
ARC Energy Limited - 38.95% (Operator) Empire Oil and Gas NL - 14.8% Emerald Oil & Gas NL - 12.75% Pancontinental Oil & Gas NL - 10.0% Phoenix Resources PLC - 10.0% First Australian Resources Limited - 8.0% Indigo Oil PtyLtd - 5.5% |
|
| Comment: | N/A |
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