drilling success in the worrior field, page-6

This is an excellent announcement and certainly needs to have an effect on the shareprice.

More then 21 mtr of net oil pay in the worrior 5 and 18 mtr in the Worrior 6, which will not only result into a higher production but also an increase in overall reserves.
Worrior seems to constantly coming up with the goods and will underpin COE cashflow for some time to come.

And with the Tapis price around the A$100 they will keep adding to the till.

Now we only need the upper gas shows in kurnia being commercial and we are up and away.

Lets add to the success story Worrior, Calawonga and....Kurnia??

Maybe we can celebrate before the week is out.

jojo


ASX ANNOUNCEMENT - FOR IMMEDIATE RELEASE
11 September 2007
DEVELOPMENT DRILLING SUCCESS IN THE WORRIOR FIELD
South Australian based oil exploration and production Company, Stuart Petroleum
Limited (ASX Code: STU) today announced that the Worrior 5 and Worrior 6
development wells were successful and are to be completed for production.
The Managing Director of Stuart Petroleum, Mr Tino Guglielmo said, “The production
potential from the McKinlay Member in Worrior 6 is the best the Company has
observed in the Worrior oilfield and appears un-affected by existing field drainage.
The impact on the Company’s oil reserves will be evaluated after the wells are
brought on line”.
Wireline logs for Worrior 5 indicate 9 metres of net oil pay in the McKinlay Member
and 12.5 metres of net oil pay in the Birkhead Formation. Wireline logs for Worrior 6
indicate 12.5 metres of net oil pay in the McKinlay Member and 6 metres of net oil
pay in the Birkhead Formation. The wells will be completed for production from both
zones.
The Murta Formation is also being evaluated in both wells.
Worrior 5 and Worrior 6 will be tied in to existing Worrior facilities and commence
production two weeks after the respective drilling rig moves off location.
Participants in both wells, drilled within the Cooper/Eromanga Basin production
licence PPL 207, are:
Stuart Petroleum Limited (Operator) (ASX:STU) 70%
Cooper Energy Limited (ASX:COE) 30%
For further information please contact: Managing Director Tino Guglielmo on (08) 8410 0611
Email: [email protected]