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FIN RESOURCES LIMITED — Board/Management Information 2013
Aug 6, 2013
64920_rns_2013-08-06_83a206ad-fd85-4c4c-93a0-3e31dda6659b.pdf
Board/Management Information
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7 August 2013
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BOARD & MANAGEMENT
Manager of Company Announcements ASX Limited Level 8 Exchange Plaza 2 The Esplanade PERTH WA 6000
By E‐Lodgement
Mr Greg Bandy EXECUTIVE DIRECTOR
Mr Jason Bontempo NON‐EXECUTIVE DIRECTOR
Mr Jeremy King NON‐EXECUTIVE DIRECTOR
Mr Denis Patten NON‐EXECUTIVE DIRECTOR
DRILLING TO COMMENCE AT BURRUNA‐2 OIL EXPLORATION WELL
Orca Energy Limited ( Orca or the Company ) is pleased to advise that its Joint Venture partner and Operator, Senex Energy Limited (ASX: SXY), commenced drilling the Burruna‐2 oil exploration well on 6 August 2013. Burruna‐2 will be drilled to a target depth of 1,870 meters to test the hydrocarbon potential of the Murta Formation and secondary targets in the Namur Sandstones, Epsilon Formation and Merrimelia Formation.
The well is located within the newly formed “Fury Joint Venture” area (OGY 20%, SXY 80%) and approximately 320 meters north east of the Burruna‐1 exploration well (refer Figure 1).
As per the Sale Agreement announced on the 13[th] June 2013*, Orca will be free carried for all costs associated with drilling, casing and completing the well.
Mr Arthur Pitts ALTERNATE DIRECTOR
Ms Rebecca Sandford Ms Shannon Robinson JOINT COMPANY SECRETARY
REGISTERED OFFICE Ground Floor 1 Havelock Street West Perth WA 6005
POSTAL ADDRESS PO Box 1440 West Perth WA 6872
CONTACT DETAILS
Burruna‐1 was drilled in 1982 and encountered both oil and gas shows in the Murta, Epsilon and Merrimelia Formations. Since then, multiple nearby fields have produced oil from the Murta Formation. The closest well, Mirage‐1 in PPL 213, has produced over 240,000 barrels of oil and recently Fury‐1, also in the Fury Joint Venture area, successfully tested an 18‐metre gross oil column within the Murta Formation. Burruna‐2 has been located to maximize the Murta Formation interval and 18 metres of core will be cut to assist with the planning and design of future production enhancement techniques.
The two blocks are estimated to contain a combined total of approximately 5 million barrels of oil in place.
For and on behalf of the Board
Tel: +61 8 9488 5220 Fax: +61 8 9324 2400
WEBSITE
SHARE REGISTRY
Advanced Share Registry 150 Stirling Highway Nedlands WA 6009
ASX CODE OGY
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Greg Bandy Executive Director
- Subject to shareholder approval at General Meeting to be held on 7[th] August 2013
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Figure 1
Ground Floor, 1 Havelock Street, West Perth WA 6005 | Tel: +61 8 9488 5220 | Fax: +61 8 9324 2400 | www.orcaenergy.com.au ABN 25 009 121 644