NEW POOL OIL DISCOVERY IN McKINLAY FORMATION AT HARPOONO #2 PEL 113, SA
Stuart Petroleum Limited advises that the Harpoono 2 has made a new pool oil discovery in the McKinlay formation. Drill Stem Test 1 was run from 1191m to 1196.4m in the Mckinlay Formation and flowed oil to surface at a rate of 1080 barrels of oil per day with no water.
Over the period, the well was drilled to TD and wireline logs were acquired. The logs indicated potential pay in both the McKinlay and Murta formations.
Drill Stem Test 2 is being run from 1152m to 1161m to test the Murta Formation.
The status of Harpoono #2 at 06:00 hrs (CST) on 3 April 2006 was:
Location: PEL 113 Planned Total Depth: 1500 metres (TVD) Current depth: 1498 metres Operation: Making up test tools for Drill Stem Test #2 Spud: 03:30 hrs on 27 March 2006
Participants in the Harpoono #2 well are:
Stuart Petroleum Limited (Operator) 66.67% Beach Petroleum Limited. 33.33%
STU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
