Proposed TD: Depth : 3740mMD; (Vertical Well) Elevation: Ground Level is 57.2mAMSL Rotary Table is 62.9mAMSL Spud Date: 17:00 hrs, WST 22nd January 2008 Present Depth at 0600 hrs: 3254m MD Time of Reporting: 0600 hrs, WST 3rd April 2008 Operations Since Last Report: Drilled 216mm (8 ½”) hole from 2935m to 3254m MD. Current Operations: Circulating to condition and stabilise hole at 3254m. Hydrocarbon indications: Elevated mud gas readings were noted over a gross interval from 2854 to 2983 metres. Comments: The well has encountered the primary objective Tournasian aged gas sands some 400 metres updip from the intersection of the same sands in the Yulleroo 1 well. The sands appear similar to those encountered in Yulleroo 1 with approximately 40 metres of potential gas pay. Wireline logs, pressure data and production test data are required to evaluate the reservoir potential of these sands. The forward plan is to drill ahead to the interpreted secondary objectives of the Laurel Limestones and the Famennian aged carbonate interval which is age equivalent to the reefal limestone section encountered in Stokes Bay 1. This operation is expected to take another 7 days, however hole conditions are causing some concern and a decision on the running of a liner to protect the section encountered to date and ensure the ability to drill to the deeper objectives will be taken as operational conditions require.
ARQ Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
