100708 Blamore 1 Pedirka Basin Drilling Progress Report Blamore 1 is the first well in a planned 7 well programme in 2008 targeting prospective recoverable resources at �high� estimate of 260 Mmbbls oil and 2.4 TCFG gas and up to 105 BCFG Helium in conventional reservoirs as well as representing the first phase of exploration for 34-70 TCFG in prospective recoverable Coal Bed Methane resources. Please refer to earlier announcements for details of the 2008 exploration programme Blamore 1 Report from 0600 hrs 8 July to 0600 hrs 10 July 2008 Drilling : Landing 9 5/8� casing and preparing to cement in place. Geology : Encountered interpreted top of Cadnaowie Formation at c.951m RKB. Total Depth : Planned total depth is 2,500m. Targets : Prognosed primary reservoir targets are the top Algebuckina Sandstone, Poolowanna Formation and the Tirrawarra Sandstone. Other horizons may have potential. Blamore is a wildcat well based on seismic interpretation. Prognosed formation top depths are being revised using new seismic parameters based on preliminary field wellsite interpretation and subject to ongoing revision as more data becomes available, particularly final electric logging. It is encouraging that field picks for formation tops are coming in higher than the preliminary prognosis.
CTP Price at posting:
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