FINDER ENERGY HOLDINGS LIMITED Finder Energy Holdings Limited provided an update on the Kanga-1 exploration well located in WA-412-P. SapuraOMV as Operator of WA-412-P is managing the well operations on behalf of the joint venture. Finder holds a 15% interest in Kanga-1 and WA-412-P. The Kanga-1 well bore is currently at a depth of 3,180 mRT, just above the final 8 ½" open hole section which will intersect the primary target Legendre Formation sandstones. Figure 1 shows the current status of the Kanga-1 well bore.
Since the last report the intermediate 12 ¼" hole section has been drilled down to a depth of 3,180 mRT. The rig is currently installing the 9 5/8" steel liner. Once installed and cemented the final 8 ½" hole section will be drilled to a final total depth of approximately 3,300 mRT.
The primary target Legendre sandstone reservoir will be drilled in this hole section. No hydrocarbons are anticipated above the primary reservoir target.
