27th July 2011
Company Announcements Office ASX Limited 4th Floor 20 Bridge Street Sydney NSW 2000CAMBAY-76H ?TIGHT? RESERVOIR WELL REPORT NO 8Oilex Ltd (?Oilex? ASX: OEX, AIM: OEX) advises that the mobilization for the large volume multi- stage fracture stimulation of the horizontal Cambay-76H well has been completed with all equipment now on site and rigged up. The Black Pearl drilling rig has been fully demobilised from site.
In preparing for the start of the fracture stimulation program; a test of all surface equipment has been conducted, mixing of chemicals and loading of proppant and water to tanks is underway and coiled tubing operations are being completed. The fracture stimulation program will comprise eight stages with two fracture initiation points per stage. The well will then be flowed to surface to remove stimulation fluids and clean up the well bore prior to conducting the flow test. The Cambay-76H ?proof of concept? horizontal well is evaluating the production potential of the Y Zone interval of the extensive Eocene ?tight? reservoirs in the onshore Cambay Production Sharing Contract (?PSC?), Gujarat, India.Report date | 26th July 2011 |
Status | Preparing for fracture stimulation operations |
Past Week?s Operations | ? Demobilising drilling rig ? Mobilising and rigging up fracture stimulation equipment |
Objective | Cambay Eocene ?tight? reservoir Y Zone |
Total Depth (TD) | 2,740 metres including 610 metres horizontal section |
Note: All depths refer to measured depth below rig rotary table (?MD?)
The participating interests in the Cambay PSC are:
JOINT VENTURE PARTY | PARTICIPATING INTEREST |
Oilex Ltd (Operator) Oilex NL Holdings (India) Limited Gujarat State Petroleum Corporation Ltd | 30% 15% 55% |
ABN 50 078 652 632
Ground Floor, 26 Colin Street, West Perth WA 6005 Australia, PO Box 588 West Perth WA 6872 Australia
Telephone: (+61 8) 9485 3200 Facsimile: (+61 8) 9485 3290
Email: oilex@oilex.com.au Web: www.oilex.com.au
For further information, please contact:Oilex Ltd +61 (0)8 9485 3200 (Western Australia) Bruce McCarthy Managing Director oilex@oilex.com.auBen Clube Finance Director oilex@oilex.com.au
Ambrian Partners Limited (Nominated Adviser and AIM Broker)Matthew Einhorn Anthony Rowland | matt.einhorn@ambrian.com anthony.rowland@ambrian.com | +44 (0) 20 7634 4860 +44 (0) 20 7634 4858 | (UK) (UK) |
Read Corporate Nicholas Read | nicholas@readcorporate.com.au | +61 (0)8 9388 1474 | (Western Australia) |
Tavistock Communications Paul Youens | pyouens@tavistock.co.uk | +44 (0)207 920 3150 +44 (0)7843 260 623 | (UK) (UK) |
Ed Portman | eportman@tavistock.co.uk | +44 (0)7791 892 509 | (UK) |
This document may include forward-looking statements. Forward-looking statements include, but are not necessarily limited to, statements concerning Oilex Ltd?s planned exploration program and other statements that are not historic facts. When used in this document, the words such as ?could?, ?plan?, ?estimate? ?expect?, ?intend?, ?may?, ?potential?, ?should? and similar expressions are forward-looking statements. Although Oilex Ltd believes that its expectations reflected in these are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements.?
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