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TALIUS GROUP LIMITED Capital/Financing Update 2007
65893_rns_2007-03-13_bb264798-bc35-4b5c-9461-5a1330eb8f62.pdf
Capital/Financing Update
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ASX Announcement DATE: 14 March 2007
Martin County Activity Update
| Strain 16-3 | |
|---|---|
| Project | Motherlode |
| Prospect | Totem |
| Well Type | Oil and Associated Gas |
| Location | Martin County Texas |
| Depth | 10,750 feet |
| Working interest | 12.5 % |
| Operator | North American Energy and Endeavor Energy Resources |
| Status | Waiting on tank battery connection |
On February 27, 2007 the well was perforated and stimulated in ten different prospective horizons. In total, 16,612 barrels of frac fluid and acid was pumped into the ten reservoirs carrying 800,000 lbs of various sizes of sand as a propping agent. It is estimated that this well will come online producing 100 BOPD and 200 MCFPD from all zones combined.
Prudie Brown 10-1
| Project | Motherlode |
|---|---|
| Prospect | Key East |
| Well Type | Oil and Associated Gas |
| Location | Martin County Texas |
| Depth | 11,025 feet |
| Working interest | $12.5\%$ |
| Operator | North American Energy and Endeavor Energy Resources |
| Status | Well on Production |
The well is currently producing 72 BOPD and 65 MCFPD. The oil and gas production continues to increase as the 18,000 bbls of stimulation load fluid is recovered. North American Energy estimates this well to level off at 100 BOPD and 125 MCFPD.
| Graham No. 1 | |
|---|---|
| Project | Motherlode |
| Prospect | Homestake |
| Well Type | Oil and Associated Gas |
| Location | Martin County Texas |
| Depth | 10,600 feet |
| Working interest | 22.5 % |
| Operator | North American Energy and Huntington Energy |
| Status | Well on Production |
The well is currently producing 20 BOPD and 40 MCFPD and is still increasing as the stimulation load is recovered.
Strain 16-2
| Project | Motherlode |
|---|---|
| Prospect | Totem |
| Well Type | Oil and Associated Gas |
| Location | Martin County Texas |
| Depth | 10,230 feet |
| Working interest | 12.5% |
| Operator | North American Energy and Endeavor Energy Resources |
| Status | Well on Production |
The Strain 16-2 well is currently testing 25 BOPD and 50 MCFPD from 3 of the 8 stimulated zones. Once each zone has been tested, the well will be produced from all zones in a commingled stream at an estimated rate of 75 BOPD and 125 MCFPD.
Hull No. 1
| Project | Motherlode |
|---|---|
| Prospect | Homestake |
| Well Type | Oil and Associated Gas |
| Location | Martin County Texas |
| Depth | 10,600 feet |
| Working interest | 22.5 % |
| Operator | North American Energy and Huntington Energy |
| Status | Well on Pump |
The well has stabilized at 20 BOPD and 90 MCFPD, this is a four-fold increase in average production.
For further information contact: Mr Lance Camacho Company Secretary Telephone: 08 9486 1122
Facsimile: 08 9486 1011
Advance Energy Limited is focused on the acquisition and development of oil and gas producing assets in Texas USA. The company aims to acquire assets with a combination of debt and equity that have current production and cash flow and to enhance production and cash flow through the further development of these assets. Once a property has reached its full productive potential and/or has achieved economic payout to Advance Energy, the Company would look to on sell all or part of its interest. It is the aim of the Company to develop a portfolio of assets which will be developed and traded to maximize returns on funds invested.