Jingemia New Oil Field Discovery: Update
Announced by: AUSTRALIAN WORLDWIDE EXPLORATION LIMITED (AWE)
Announced on: 23/10/2002 10:14:45
Part: A
Words: 540
Status: Market sensitive (Y)
Related Companies: HARDMAN RESOURCES LIMITED, VICTORIA PETROLEUM NL, VOYAGER ENERGY LIMITED, PANCONTINENTAL OIL & GAS NL, ORIGIN ENERGY LIMITED (HDR,VPE,VOY,PCL,ORG)
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AUSTRALIAN WORLDWIDE EXPLORATION LIMITED 2002-10-23 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++
Australian Worldwide Exploration Limited, via its wholly-owned
subsidiary, AWE (Perth Basin) Pty Ltd, ("AWE"), has been provided an
update on the Jingemia-1 well by the operator of EP 413.
The text of the Operator's advice is as follows:
"Preliminary interpretation of the charts recovered from Drill Stem
Test 2 in the Dongara Sandstone over the interval 2,407.3 metres to
2,419 metres has indicated that this test was only partially
successful due to plugging of the test tool upon commencement of the
main 3 hour flow period. Consequently, almost the entire oil recovery
of 26.5 barrels announced yesterday is believed to have been produced
during the initial 8 minute preflow period. This suggests an
initialflow rate from this reservoir in excess of 4,000 barrels of oil
per day.
Following retrieval of the Drill Stem Test tool, the well has been
drilled a depth of 2,497 metres. Indications whilst drilling suggest
that the Dongara Sandstone is approximately 55 metres thick with good
oil shows recorded over an interval of 34 metres.
It has been agreed by the Joint Venture that wireline logs will be
run once sufficient hole has been drilled to allow logging over the
entire reservoir interval. It is now likely that the oil zone will be
cased prior to drilling ahead to the secondary High Cliff Sandstone
target in 6 inch hole.
Commenting on today's release, Origin Energy's General Manager
Exploration Dr Rob Willink said 'The joint venture is edging closer
to understanding the commercial significance of this exciting new
onshore oil discovery in the Perth Basin. Wireline logs expected to
be acquired later today will determine the actual extent of the
hydrocarbon column in the Dongara Sandstone, and the thickness and
quality of this reservoir. Once this information is to hand, an
preliminary estimate of potential oil in place and recoverable
reserves can be made and released to the market.'
All depths cited above are measured depths along hole."
Jingemia-1 is the first of a number of wells in the northern Perth
Basin in which AWE will participate in the next 5 months. Others
include appraisal of the Cliff Head oil discovery and the Mentelle
and Twin Lions exploration wells, all situated in shallow waters,
nearshore and to the west of Jingemia-1.
Commenting on the Jingemia discovery, AWE's managing director Mr
Bruce Phillips said:
"It is easy to get excited about the results to date from the
Jingemia-1 well. However, it is early days in the evaluation process
and we await the receipt of further well data before the commercial
significance of the discovery is understood."
Participants in EP 413 and Jingemia-l are as follows:
AWE (Perth Basin) Pty Ltd 15.245%
Origin Energy Developments Pty Limited 49.189%
Hardman Oil and Gas Pty Ltd 22.376%
Victoria Petroleum NL 5.7685%
Voyager Energy Limited 5.7685%
Pancontinental Oil & Gas NL 1.278%
Alan Robert Burns 0.233%
John Kevin Geary 0.142%
For further information please contact Mr Bruce Phillips
(Phone: (02) 9460 0165 or Fax: (02) 9460 0176)
Email: [email protected] Website: www.awexp.com.au
A copy of the Perth Basin Prospects and Leads map is available in PDF
format on www.asx.com.au. Alternatively it is available for purchase
from ASX Customer Service on 1 300 300 279.
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