AI assistant
EMERALD RESOURCES NL — Capital/Financing Update 2007
Aug 29, 2007
64849_rns_2007-08-29_5c52765c-4b03-4f14-9d9b-e6bd8f548259.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [87 x 70] intentionally omitted <==
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\
30 August 2007
ASX Limited Company Announcements Office Level 4 20 Bridge Street SYDNEY NSW 2000
Dear Sirs
RE: EP 104/R1 CANNING BASIN, WESTERN AUSTRALIA – UPDATE ON THE VALENTINE-1 WELL
Please find attached a release on the progress of the Empire Oil & Gas N.L. Canning Basin exploration programme with the drilling of the Valentine-1 exploration well.
Regards
==> picture [132 x 42] intentionally omitted <==
J L CRAIG MARSHALL Managing Director
VALENTINE-1 DRILLING REPORT CANNING BASIN, WESTERN AUSTRALIA
| CANNING | BASIN, WESTERN AUSTRALIA | BASIN, WESTERN AUSTRALIA |
|---|---|---|
| Date: | 30 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 12.4mAMSL RotaryTable is 18.1mAMSL |
|
| 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: | 2,340mMD | |
| Time of Reporting: | 0600 hrs,WST 30 August 2007 | |
| Operations Since Last Report: |
Drilled 8 ½” hole from 1,566 to 2,340mMD | |
| Current Operations: | Drillingahead in 81/2” hole at 2,340mMD | |
| Hydrocarbon indications: | Elevated gas levels above background gas levels were detected over a 2 to 3 metre interval at approximately 2,250mMD whilst drilling interbedded Claystone and dense well cemented sandstones of the marine member of the Anderson Formation. The significance of these gas readings will be determined once the well has reached total depth and wireline logginghas been completed |
|
| 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% |
|
| Comment: | N/A |
==> picture [417 x 149] intentionally omitted <==
==> picture [417 x 148] intentionally omitted <==
==> picture [417 x 148] intentionally omitted <==
==> picture [417 x 148] intentionally omitted <==