Moby Oil & Gas Limited (ASX Code: MOG) provides the following update on the status of drilling operations regarding the Braveheart-1 well spudded 29 December 2009 by the Songa Venus semi- submersible drilling rig.
Since the date of the last report on 11 January 2009, drilling operations resumed as planned. As of 8.00 am Melbourne time the well was at a depth of 1364 metres and drilling ahead. The expectation is that the targeted depth for the Braveheart prospect will be reached late today.
Braveheart-1 is situated in the Browse Basin permit WA-333-P, offshore Western Australia and is being drilled into the Braveheart Prospect that straddles the WA-332-P and WA-333-P permits.
The participants in the Braveheart-1 well and the Braveheart Joint Venture are:
Moby Oil & Gas Limited (ASX Code: MOG) 26.4375%
Braveheart Resource Pty Ltd 25.3750% (subsidiary of Exoil Limited) (NSX Code: EXX) Braveheart Oil & Gas Pty Ltd 14.5000% (subsidiary of Australian Oil & Gas Corporation) Braveheart Energy Pty Ltd 7.2500% (subsidiary of Goldsborough Limited) Private Interests 26.4375%
The Operator of the Braveheart Joint Venture is Hawkestone Oil Pty Ltd, a subsidiary of Exoil Limited (NSX Code: EXX).
By Order of the Board
MOG Price at posting:
22.0¢ Sentiment: None Disclosure: Held
