ANNOUNCEMENT TO ASX 1) OPERATIONS UPDATE: ARWON # 1 PEL 93, COOPER/EROMANGA BASIN SA
Stuart Petroleum Limited as operator for the Arwon #1 oil and gas exploration well in PEL 93 advises that the drilling rig well control system has been demobilised from site and has arrived in Adelaide for repair and recertification to ensure safety and reliability.
The rig is still on location and is undergoing additional maintenance work whilst the well control system in under repair. A further advice will be issued prior to recommencing drilling operations.
The present timing estimate for completion of the repairs, recertification and return to site is two weeks.
The Arwon #1 well has been safely cased with 9-5/8” surface casing to a depth of 735 metres. When drilling operations resume the well will be re-entered and drilled to plan to evaluate the primary targets in the McKinla y, Birkhead, Hutton and the Patchawarra formations.
The status of Arwon # 1 is: Location: PEL 93, 55km south-west of Moomba Planned Total Depth: 1930 metres Current depth: 790 metres Operations: Suspended Spud: 02.00hrs, 23 September 2004
Participants in the Arwon Joint Venture are: Stuart Petroleum Limited (Operator) 88.8% (STU) Cooper Energy NL 11.2% (COE)
STU Price at posting:
0.0¢ Sentiment: None Disclosure: Held
