G'day Hardmano,
Y sorry about that, I am a little eager to see the result of Khefren for STO coming up so jumped to conclusions this arvo.
Nabrajah testing coming along well, but will take a fair while to get the full picture imo...moving on to Nabrajah-4 once this is done.
Last weeks Nabrajah report is at bottom of this post for those who haven't read it...
Otherwise, OSH is still consolidating nicely below the resistance at $1.72. The indicators are still showing lots of accumulation, which is good, given that the POO has come right off.
However, on pure technicals there is a risk of a fall to confirm the $1.52 level. It is only a risk, by no means expected. It would probably happen if there was a break below $1.64.
This doesn't alter the fact that - long-term - everything chartwise is still pointing to a target in the vicinity of $2.49. Next resistance is $1.90. It's all good.
--------------------
Drilling Report
11 November
Nabrajah-3
Oil Search reports that as at 0600 hrs Yemen time (+4 hrs GMT) on 10th
November 2004, the Nabrajah-3 well in Block 43, Yemen, had commenced
the planned testing programme.
The testing programme has been modified from the Company’s previous
report to include a third test as follows:
• Test 1 over the upper Qishn S2 Sandstone between 1,696 to 1702
metres.
• Test 2 over the Qishn S2 Sandstone between 1,696 to 1,702 metres
and 1702 to 1709 metres.
• Test 3 over the Qishn S1 Sandstone between 1670 to 1676 metres.
Preliminary results from Test 1 indicate that the well is flowing 1,278 bopd
(25 deg API), 1,054 bwpd and 174 Mscf/d. The forward program is to
complete Test 1 and commence Test 2.
Following the completion of the Nabrajah-3 test programme the well will
be suspended and the rig moved to the Nabrajah-4 location, which is
located approximately 800 metres east of the Nabrajah-1 surface location.
Nabrajah-3 is the second well in an appraisal drilling programme to
determine the size and commercial viability of the Nabrajah discovery.
The Nabrajah-3 well is being drilled from the same surface location as
Nabrajah-1, with a planned bottom-hole location approximately 1.1
kilometres northeast of the Nabrajah-1 bottom-hole location.
The participants in the Nabrajah-3 well are:
DNO ASA 56.67%, operator
Oil Search (Yemen) Limited 28.33%
The Yemen Company 15%, carried
Total 100%
PETER BOTTEN
Managing Director
For further information please contact:
ANN DIAMANT
Investor Relations Manager
Tel: 02 8207 8440
Mob: 0407 483 128
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