OGY Cooper basin australia Oil/gas exploration producer,oil texas usa FA long Sp 2.2 Mc 10 mil Cash 3.6 million
Own Pel 110 728sq km Pel 115 266sq km
Proven wells Pel 115 Mirage 1 dec 04 17 m oil coloum 372 bopd Canberra 1a nov 04 oil shows Ventura 1 oct 04 10 m oil column 340 bopd Hornet 1 sept 04 up to 28 m column net gas Fury 1 dec 09 19 m oil column Airacobra 1jan 10 4 m oil column
Source google search pel115/ petroleum exploration society of australia Pesa news April/may 2005 Issue no 75.
Pel 115 is completely surrounded by senex pel 116 which senex estimates holds over 100 trillion cubic ft gas plus oil.senex is the major shareholder of ogy and is currently funding operations through a jv partnership.
Senex are currently completing a large fracture stimulation program of 5 wells in the cooper basin,2 of these are with ogy. 1st one. Kingston rule 1 53 m of net gas pay.mud logs confirmed liguid rich hydrocarbons.OIL.and by wells situated close by they prove to be very profitable. 2nd well Hornet 1. 28 m of net gas pay.gas flowed to surface during drilling. Pel 110 ogy and sxy are currently completing further 2d mapping.
Upside sp potential is huge,downside sp risk is very limited.senex bought 20% 12 months ago for double current sp.both wells have proven gas and or oil shows and are surrounded by proven wells. Frac and flow rates should be availlable soon as they have started frac a few weeks ago.
