re: announcement out 7 September 2004Centralised Company...

re: announcement out 7 September 2004
Centralised Company Announcement Office
Australian Stock Exchange Limited
10th Floor, 20 Bond Street
Sydney, NSW 2000
Dear Sir,
RE: ROOKWOOD SOUTH-1 WELL ADDITIONAL INFORMATION & LIFT OF TRADING HALT
Oilex NL advises that further to the announcement this morning of Drill Stem Test#1 being run over the
interval 1,374-1,382 metres in the top of the target Boxvale Sandstone in response to good oil shows, with
552 metres of dark green oil equivalent to 13.5 barrels of oil recovered in the drill string, with no water
over a flow period of 55 minutes calculated out to a flow rate of 352 barrels of oil per day.
It is anticipated that the Boxvale Sandstone formation is capable of producing more than 352 barrels of oil
per day and is capable of producing more than this rate on artificial lift.
The full significance of this encouraging recovery of oil on test will be determined by analysis of the DST
charts and subsequent wire line logs to be run following the drilling of the remaining Boxvale Sandstone
target to determine the extent of the oil column and then continuing the well to basement to the planned
total depth of 1410 metres.
The Rookwood Prospect is interpreted from seismic data to have the potential to contain up to 12 million
barrels of recoverable oil in the target Jurassic Boxvale Sandstone, subject to the determination of the
amount of oil column present following the completion of drilling and wire line logs.
Spud Date: 2nd September 2004
Days since Spud: 6
Depth: 1,382 metres
Operation at 0600 hours: Conducting a DST
Planned Total Depth: 1,410 metres
This discovery brings in a new oil trend west of the existing Surat Basin producing areas. ATP 608P
contains a number of similar leads north and south on this trend.
Interests in ATP 608P following completion of the well will be:
Rookwood
Block
Remainder
Block
Oilex NL 59.06% 66.75%
Victoria Petroleum NL 29.69% 24.00%
Private Interests 11.25% 9.25%