Commenting on the drilling at Growler-2, Victoria Petroleum NL’s Managing Director John Kopcheff said: “Victoria Petroleum is pleased to be drilling its first appraisal well on the Growler Oil Field. With the test results to date for Growler-1, we are encouraged that good oil producing rates are achievable from the Birkhead reservoir sands in this area.” “The current production characteristics of the Birkhead oil sand if further confirmed by Growler-2 could lead to a large development drilling program of the same style as the successful Santos “Cooper Oil Project”, although it is early days yet for this area.” “Exploration success at Growler and Wirraway maintains our 100% exploration success rate in PEL 104 and further confirms our belief that a new Jurassic “Oil Fairway” and oil production province with the potential for an in place oil resource of up to 100+ million barrels of oil is present in the western part of PEL 104 and our adjoining PEL 111 permit, if oil is present”
“Thirty two prospects and leads have been mapped as follow up targets in PEL 104 and in the immediately adjacent permit to the north, PEL 111, which lie along the Jurassic “Oil Fairway”. “Given the current exploration success rate, Victoria Petroleum would expect to enjoy further exploration success in the ongoing 2007 ten well Cooper Basin drilling program as encountered at Wirraway-1.” “We look forward to encountering further drilling success in the Growler-2 appraisal well of the Growler oil discovery”
ITC Price at posting:
0.0¢ Sentiment: None Disclosure: Held
