mirage- 3 being completed for oil production,

13 March 2006
Company Announcements
Australian Stock Exchange Limited
Level 4, 20 Bridge Street
SYDNEY NSW 2000
MIRAGE- 3 BEING COMPLETED FOR OIL PRODUCTION, MIRAGE OIL FIELD, PEL 115 SA
COOPER BASIN
Victoria Petroleum NL as Operator for the PEL 115 Joint Venture advises that at 0600 hours
Central Standard Time (CST) today the operation was completing the well for production
after having run 7 inch production casing to 1,653 metres. The production casing is
planned to be cemented and then perforated over the interval 1,320 metres to 1330.5 metres
that recovered oil in open hole Drill Stem Test (DST) No.1.
DST No.1 over the Murta formation interval 1,317-1,330 metres recovered 27 barrels of clean
oil with no water in the drill string over a two hour flow period equating to an estimated inflow
rate of 324 barrels of oil per day.
The results of this DST are similar to those for the producing Mirage-1, the discovery well
for the Mirage Oil Field and confirm the extension of the Mirage oil pool to this northern
portion of the Mirage Oil Field.
The Murta oil sands, the primary target for Mirage-3, are producing 970 metres to the
southwest at Mirage-1 and are undergoing production testing at Mirage-2, 400 metres to the
south.
Commenting on the Murta Drill Stem Test result at Mirage-3, Victoria Petroleum NL’s Managing
Director John Kopcheff said;
“Victoria Petroleum is pleased with the completion of Mirage-3 as a Murta oil producer on the
Mirage Oil Field.”
“The results are in line with our expectations for this one kilometre step out from the discovery well
for the Mirage Oil Field.”
“If our four well development program on the Mirage Oil Field is successful, as we hope it will be,
we should see an increase in production from the current 400 barrels of oil per day to a target
1,000 barrels of oil per day by mid 2006.”
“Any increase in oil production from the Mirage Oil Field would be timely in this current time of high
oil price.”
The participants in the drilling of Mirage-3 and PEL 115 and their respective interests are as
follows;
Victoria Petroleum N.L (Operator) 40%
Impress Ventures Ltd 40%
Roma Petroleum N.L. 20%


why wasn't this marked a price sensitive? - was the market pretty much aware of this ann already?
or isn't it regarded as very significant?
but it sounds like it is.