Ann: F5-ST Bypass Well to be Completed as a Producing Well, page-8

Great to see the thicker sand its looking more like F3 which produced for years at > 1500bopd

JV partner update as follows


SM71 F5ST1 BP1 Completion Operations Begin 177’ TVT D5 Sand Pay Hydrocarbon Logged The Byron Energy operated SM71 F5ST1 BP1 (F5ST1 BP1) well reached total depth of 7,219 feet MD/6,439 feet TVD at 1300 hours, Sunday, 27 October 24 (USCDT).

Based on Log While Drilling (LWD) tools and drill cuttings the F5ST1 BP1 wellbore intersected 177’ TVT of hydrocarbon in the D5 Sand, an increase of 30% more than the F5ST1. The intersection point was just 55 feet northwest of theD5 Sand intersection in the SM71 F5ST1 well. The excellent quality of the D5 Sand in the F5ST1 BP1 wellbore indicates the well is near the center of the depositional channel system.

Although LWD tools were up to 20 feet behind the bit, cuttings from the bottom of the well indicated the bit was still drilling sand at TD. Due to the pressure transition encountered in the F5 ST1 below the D5 Sand interval, it was decided to stop above the base of the sand, run casing and complete the well. This will allow for up to 100 feet of perforations in the D5 Sand.

In addition to the D5 Sand, hydrocarbons were also logged in the I2, I3 and J Sands in the F5ST1 BP1 well. Additional log analysis of the F5ST1 also indicates similar low contrast resistivity oil pay in the J Sand. This result is consistent with J Sand oil pay logged in the SM17 F1 well and further confirms Byron’s mapping of an attic area updip to prior J Sand production of 4.6 million barrels of oil (mmbo).

As of 0300 hours on Tuesday, 29 October 24 (USCDT), 7” casing had been run to bottom and cemented in place. Rig crews are now transitioning from drilling to completion operations. Current plans call for a sand control type completion across the D5 Sand. That operation is expected to take about 14 days and then another 7 days will be required for top side hook up before production can begin.

As reported on 22 October 24, Byron had begun bypass drilling operations on the SM71 F5ST1 BP1 wellbore to replace the SM71 F5ST1 (F5ST1). The F5ST1 had intersected 133’ TVT of hydrocarbon pay in the primary D5 Sand target.

It also logged hydrocarbon in the I2 Sand, I3 Sand and J Sand before the drill pipe became stuck and the hole was abandoned. Byron is the operator of the well and holds a 50% Working Interest and 40.625% Net Revenue Interest in this well and the SM 71 lease with Otto Energy Ltd. (ASX OEL) holding the remaining interest