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36TH FLOOR, EXCHANGE PLAZA, 2 THE ESPLANADE, PERTH, WESTERN AUSTRALIA 6000
TELEPHONE: (08) 9220 9800, FACSIMILE: (08) 9220 9801, EMAIL: [email protected] WEBSITE: www.vicpet.com.au
CORRESPONDENCE TO PO BOX Z5441, ST GEORGES TERRACE, PERTH, WESTERN AUSTRALIA 6831
h:\louisa\louisa\ase\cooper basin\pel 115\mirage-3\asx mirage-3 06 7 march 2006.doc
7 March 2006
Company Announcements
Australian Stock Exchange Limited
Level 4, 20 Bridge Street
SYDNEY NSW 2000
DRILLING REPORT FOR MIRAGE- 3, MIRAGE OIL FIELD, PEL 115 SA COOPER BASIN.
Victoria Petroleum NL as Operator for the PEL 115 Joint Venture advises that at 0600 hours
Central Standard Time (CST) today the operation was preparing to carry out DST #1 over the
objective Murta formation at a depth of 1330 metres.
Hydrocarbon shows including fluorescence and elevated gas readings were observed over
the interval 1319-1330 metres. The Murta oil sands, the primary target for Mirage-3, are
producing 970 metres to the south west at Mirage-1 and being tested for oil production 400
metres to the south west at Mirage-2.
Secondary targets are sands of the McKinlay at 1,368 metres, Namur at 1,383 metres,
Birkhead at 1,592 metres and Hutton at 1,618 metres. The proposed total depth for the well is
1,668 metres.
Commenting on the commencement of drilling at Mirage-3, Victoria Petroleum NL’s Managing
Director John Kopcheff said;
“Victoria Petroleum is pleased to be drilling the second development well, Mirage-3 on the Mirage Oil
Field.”
“If our development program on the Mirage Oil Field is successful, as we hope it will be, we should
see an increase in production from the current 400 barrels of oil per day to a target 1,000 barrels of
oil per day by mid 2006.”
“Any increase in oil production from the Mirage Oil Field would be timely in this current time of high oil
price.”
The participants in the drilling of Mirage-3 and PEL 115 and their respective interests are as follows;
Victoria Petroleum N.L (Operator) 40%
Impress Ventures Ltd 40%
Roma Petroleum N.L. 20%
Regards,
JOHN KOPCHEFF
MANAGING DIRECTOR
VICTORIA PETROLEUM N.L.
Information of this report was completed by the Managing Director of Victoria Petroleum N.L, J T Kopcheff BSc
(Hons Eco.Geol), FAIMM, MAAPG, MSPE, MPESA, with 35 years experience in petroleum, geology and
geophysics.
For information on Victoria Petroleum N. L. drilling activities visit our website at
www.vicpet.com.au
VICTORIA PETROLEUM N.L. A.B.N 50 008 942 827
Incorporated in Western Australia