re: drilling report...a drill stem test will be co
" A Drill Stem Test will be conducted on penetration of the Precipice Sandstone, irrespective of the quality of shows." See ann. below.
Interesting statement to be made... Do they have a sniff of HC??? The big $$$ question. Let's watch the buying before close....
19 February 2004 Centralised Company Announcements Office Australian Stock Exchange Limited 10th Floor, 20 Bond Street SYDNEY NSW 2000 Dear Sir,
RE: OILEX NL- PROGRESS- GILIGULGUL NORTH-1 WELL
Giligulgul North-1 was at 1,288 metres at 6.00 am.
Current operation is drilling ahead in the Evergreen Formation. Formation tops have come in at about 2 metres low to prognosis.
The primary target is the Precipice Sandstone at 1,300 metres. A Drill Stem Test will be conducted on penetration of the Precipice Sandstone, irrespective of the quality of shows. Participating Interests: Oilex NL (Operator) 34.5% Victoria Petroleum NL 30% (Carried interest for this well) Arrow Energy NL 12.5% Private Interests 23% Yours faithfully, David Archibald Managing Director cc: MDC/GIJ
VPE Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
