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EMERALD RESOURCES NL — Regulatory Filings 2007
Oct 10, 2007
64849_rns_2007-10-10_bb1b95e4-9c1e-4c31-bbf4-50329c1ef3ea.pdf
Regulatory Filings
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EMPIRE OIL & GAS NL
ACN 55 063 613 730 SUITES 7 & 8 154 HAMPDEN ROAD NEDLANDS 6009 WESTERN AUSTRALIA TELEPHONE 61 8 6389 2687 FACSIMILE 61 8 9386 6812 EMAIL [email protected] WEBSITE www.empireoil.com.au\
11 October 2007
ASX Limited Company Announcements Office Level 4 20 Bridge Street SYDNEY NSW 2000
Dear Sirs
RE: EP 104/R1 CANNING BASIN, WESTERN AUSTRALIA – SUMMARY OF THE VALENTINE-1 WELL AND AN UPDATE OF THE STOKES BAY-1 WELL
Please find attached a summary of the Valentine-1 well and an update on the drilling of the Stokes Bay-1 exploration well.
The Valentine-1 well was a dual objective well which was sited to test the maximum possible extent of the shallow Point Torment gas accumulation and to also test a deep floor basin stratigraphic play in the Virgin Hills Formation. The shallow Anderson Formation objectives were encountered close to prediction and had excellent gas shows. The Valentine-1 shows indicate that the well could be right at the edge of the accumulation.
The Stokes Bay-1 well, a deviated well, will target these sands which Empire maps about 120 metres updip from where we saw the shows in the Valentine-1 well. We also saw some indications of oil in Valentine at the same level in the Anderson Formation. Oil was also recovered from the Lower Anderson Formation from the Point Torment-1 well during testing. The prospectivity for oil in the Anderson is also seen at West Kora-1 well, also located on Pinnacle Fault Trend, which was completed as an oil production well in the Upper Anderson Formation. The location of the drilling of the Stokes Bay-1 well this far updip is designed to evaluate both the gas tested at Point Torment-1 of 4.3 million cubic feet of gas per day, the excellent gas shows in Valentine-1 and the oil potential of the Lower Anderson Formation.
Consideration is being given that the EP 104/R1 Joint Venture deepen the Stokes Bay-1 well to the Upper Devonian aged Nullara carbonates, which produces oil at the Blina Oilfield located nearby in the same petroleum system. At the Nullara level, there were strong oil shows in the Point Torment-1 well that were never tested properly. As a consequence, the deepening of the Stokes Bay-1 well a couple of hundred metres to test the Nullara at this location is on the joint venture agenda.
At Stokes Bay-1 the current operation at 0600 hours 11 October 2007 is the running in the hole with a new drill bit to drill ahead in 8 ½” to the Anderson Formation reservoir objectives.
For further information please contact:
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J L CRAIG MARSHALL BSc (Hons), F. Aus. IMM, CPGeo Managing Director Empire Oil & Gas NL Suite 7, 154 Hampden Road, Nedlands WA 6009 Telephone: 61 8 6389 2687 Facsimile: 61 8 9386 6812 Email: [email protected]
STOKES BAY-1 DRILLING REPORT CANNING BASIN, WESTERN AUSTRALIA
| Date: | 11thOctober 2007 |
|---|---|
| Permit: | R1 |
| Well Location: | Lat : 17o08’ 23.46”S Long: 123o42’ 32.40”E |
| Directional offset to target: | 1024 metres |
| Elevation: | Ground Level is 12.4mAMSL RotaryTable is 18.1mAMSL |
| Proposed Total Depth (measured KB): |
2505 metres |
| Prognosed drilling time: | 15 days |
| Spud Date: | 0930 hrs,WST 3 October 2007 |
| Present Depth at 0600 hrs: | 1841mMD |
| Time of Reporting: | 0600 hrs,WST 11thOctober 2007 |
| Operations Since Last Report: |
Drilled 8 1/2” hole from 1226m to 1840mMD. Pipe stuck at 858m while pulling out of hole for a new drilling bit. String was freed and recovered. A cleanout trip was made during which 1m of new formation was drilled prior to POOH for a new drillingassembly. |
| Current Operations: | RIH with new BHA and bit to drill ahead in 8 ½” hole from 1841mMD |
| Hydrocarbon indications: | None |
| Comment: | N/A |
| Participants in the well (post earning): |
Empire Oil and Gas NL - 14.8% ARC Energy Limited - 38.95% (Operator) 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% |
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