:))Outstanding gas production from recent Berwyndale South and...

:))

Outstanding gas production from recent Berwyndale South and Argyle wells
In the fortnight since reporting to the market on Berwyndale South #9 and Argyle #11, the performance of both wells has been outstanding. The latest results have been 709,000 cubic feet per day (cfd) and 496,000 cfd respectively calculated on a weekly average. This is shown on the accompanying graph.
However the speed of the increase is even more significant. In the past week, daily peaks of 830,000 cfd at Berwyndale South #9 and 576,000 cfd at Argyle #10 have been recorded.
As was noted in both the 6 January 2005 release dealing with Berwyndale South #9 and the 12 January 2005 release that focussed on Argyle #11, the significance of these two wells in terms of the likely production performance of the Berwyndale and Argyle pilots cannot be overstated.
“The performance of the two wells is primarily due to QGC’s new well completion design and not to characteristics unique to these two well sites. This means that the overall performance of both the Berwyndale South and Argyle pilots is likely to far exceed the earlier indications, and this will impact dramatically on the development economics for both the Berwyndale South and Argyle gasfields”, said Richard Cottee, QGC’s Managing Director. The location of these two fields is shown on the accompanying map.
The Berwyndale South field falls within Petroleum Licence PL 201 contained within ATP 632P, and jointly owned by QGC (50%) and CS Energy (50%). The Argyle field lies within Petroleum Licence Application PLA 179, where the overarching title is ATP 620P – jointly owned by QGC (59.375%) and Pangaea Oil & Gas Pty Ltd (40.625%). QGC operates both fields.