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EMERALD RESOURCES NL — Regulatory Filings 2007
Nov 4, 2007
64849_rns_2007-11-04_13f0bc65-df92-4e36-9fc8-ec274ece8901.pdf
Regulatory Filings
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Level 2, 16 Altona Street West Perth WA 6005 Ph: 08 9482 0500 Fax: 08 9482 0505 Email: [email protected] www.emeraldoilandgas.com
5 November 2007
Centralised Company Announcements Platform Australian Stock Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000
EP 104/R1 CANNING BASIN, TESTING THE STOKES BAY-1 WELL
Please find attached the initial results of the testing of the Nullara Formation from the Stokes Bay-1 well.
It appears that the fluids currently being recovered are part of the 12,000 barrels of drilling fluids lost into the Nullara formation during the drilling operations.
The Company will advise when formation fluids have been identified flowing from the well over the next few days.
For more information please contact:
Emerald Oil & Gas NL
Tel: +618 9482 0510 www.emeraldoilandgas.com [email protected]
JOHN HANNAFORD Executive Director – Finance [email protected]
BOB BERVEN
Executive Director – Technical [email protected]
STOKES BAY-1 DRILLING REPORT CANNING BASIN, WESTERN AUSTRALIA
| Date: | Date: | 5 November 2007 | 5 November 2007 | 5 November 2007 |
|---|---|---|---|---|
| Permit: | R1 | |||
| Well Location: | Lat : 17o08’ 23.46”SLong : 123o42’ 32.40”E | |||
| Directional offset totarget: | 1024 metres | |||
| Elevation: | Ground Level is 12.4mAMSLRotary Table is 18.1mAMSL | |||
| Spud Date: | 0930 hrs, WST 3rdOctober 2007 | |||
| Present Depth at 0600 hrs: | 2777m MD | |||
| Time of Reporting: | 0600 hrs, WST 5 November 2007 | |||
| Since the last report on 1 November, production tubing hasbeen run in the well and a production flow test commenced at17:00 hours on Sunday 4 November.The well has been flowing at relatively steady rates of some3,000 to 4,000 barrels of fluid per day at a well head pressureof some 30 psi. Fluids recovered to date appear from salinityand density measurements to be drilling mud and associatedfluids. | ||||
| OperaRepor | tions Since Lastt: | been run in the well a17:00 hours on Sund | ,nd a production flow test commeay 4 November. | |
| The well has been flo3,000 to 4,000 barrel | wing at relatively steady rates ofs of fluid per day at a well head p | |||
| of some 30 psi. Fluidand density measurefluids. | recovered to date appear from sments to be drilling mud and asso | |||
| Curre | nt Operations: | Running flow test | ||
| Hydro | carbon indications: | No hydrocarbons h | ave been observed to date | |
| Comm | ent: | In excess of 12,000drilling and completi | barrels of drilling fluids were loston and approximately 2,400 barre | duringls havetion |
| been recovered. Thefluids are identified. | test will be continued until forma | |||
| Parti | iants in the Permit | ARC Energy LimitedEmpire Oil and GasEmerald Oil & Gas | 38.95% (OpNL14.80%NL1275% | erator) |
| (post | pearning): | Pancontinental Oil &Phoenix Resources PFirst Australian ResoIndigo Oil PtyLtd | .Gas NL10.00%LC10.00%urces Limited8.00%5.50% | |
About Emerald Oil & Gas NL
Emerald Oil & Gas NL (ASX: EMR; EMRO) was listed on the ASX in June 2006, raising $4 million. Emerald is an oil and gas exploration and production company with project interests in North Dakota and Texas in the USA and in the Canning Basin of Western Australia. Emerald’s focus is on conventional reservoir targets for oil and gas prospects and its primary objective is to achieve near term production and cashflow to build shareholder value and provide funds to fuel further growth. Emerald’s strategy is to take modest but meaningful positions in low risk exploration projects that can be swiftly brought into production.
Information in this announcement pertaining to exploration potential was compiled by Robert Berven, Emerald Oil & Gas NL’s Technical Director who is a Member of the Australasian Institute of Mining and Metallurgy and the American Association of Petroleum Geologists CPG # 2498.
Statements regarding Emerald’s plans with respect to its petroleum properties are forwardlooking statements. There can be no assurance that Emerald’s plans for development of its petroleum properties will proceed as currently expected. There can be no assurance that Emerald will be able to confirm the presence of additional petroleum deposits, that any discovery will prove to be economic or that an oil or gas field will successfully be developed on any of Emerald’s petroleum properties.