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EMERALD RESOURCES NL — Regulatory Filings 2008
Oct 9, 2008
64849_rns_2008-10-09_b9cb3667-fe84-4858-be35-24cf01a70e32.pdf
Regulatory Filings
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Level 2, 16 Altona Street West Perth WA 6005 Ph: +618 9482 0500 Fx: +618 9482 0505 Email: [email protected] www.emeraldoilandgas.com
10 October 2008
Centralised Company Announcements Platform Australian Stock Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000
NEW CANNING BASIN ACREAGE – APPLICATION 13SL/07-8
Emerald Oil & Gas NL (“Emerald”) is pleased to announce it has expanded its strategic tenement holdings in the Canning Basin, WA (onshore and offshore) with the successful application for W07-12 (Appl. 13SL/07-8).
APPLICATION 13SL/07-8 (W07-12) CANNING BASIN, WESTERN AUSTRALIA (Emerald 100% Working interest, Operator)
Emerald has been notified by the WA Department of Industry and Resources (DoIR) that it has been named preferred applicant for exploration permit W0712 (appl. 13SL/07-8), offshore Canning Basin WA. This application further consolidates Emerald’s strategic holdings along the structurally significant Pinnacle Fault zone and its interpreted projection offshore. The Pinnacle Fault is a key structural element between the Fitzroy Sub-Basin and the Lennard Shelf. Emerald believes that it is the conduit for oil and gas migration from the Fitzroy Sub-Basin into structural and stratigraphical traps on the adjacent Lennard Shelf to the north.
In view of the successful discovery of Devonian “reefal” reservoir rocks in the Stokes Bay 1 well at EP104/R1, which is to be further tested later this month, Emerald believes there is significant potential to discover several similar structures along the western extension of the Pinnacle Fault (map attached).
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Emerald’s Canning Basin acreage
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Emeralds current tenement holdings in the Canning Basin are summarized below.
| Exploration Permit/RetentionLicence/ApplicationsEmerald NetWorkingInterest | Permit Size(approx sq km) |
|---|---|
| EP 104 (R5)12.75%Retention Lease R112.75%Application L98-1 (option)12.75%Application EP 4/05-6100%Application L07-6100%Application T07-1100%Application 13SL/07-8 (W07-12)100%Total | 7002902004,6002004008,000 |
| 14,390 |
For more information please contact:
Emerald Oil & Gas NL
Tel: +618 9482 0510
JOHN HANNAFORD Executive Director – Finance [email protected]
BOB BERVEN Executive Director – Technical [email protected]
About Emerald’s Canning Basin Projects
Emerald has a 12.75% interest in the EP104 JV as part of its broader Canning Basin portfolio covering approximately 14,390 km[2] . The EP104 JV drilled the Stokes Bay#1 well in August 2007 which was deepened to test the Nullana “reefal” carbonates. It drilled into a porous and permeable carbonate (bottom hole) and lost circulation totalling some 12,000 barrels of drilling fluid into the formation. Pressure gradient studies indicate that the Nullara reefal carbonates could be hydrocarbon-bearing. No actual indigenous formation fluid has been recovered, only drilling fluids which invaded the formation while drilling. Further testing will be carried out during late October, 2008.
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.
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