WOMBAT 3Perforation of the casing at 2,104 – 2,107 metres took...

WOMBAT 3
Perforation of the casing at 2,104 – 2,107 metres took place late yesterday afternoon.
This morning, on the first swabbing run a light green high API gravity oil was recovered. The API has
not yet been measured and swabbing is continuing.
This is the first oil recovered onshore Gippsland. The full significance of this recovery will not be known
for several days.
NORTH SEASPRAY 3 – RE-ENTRY
Lakes Oil (“LKO”) advises that at 8.00 AM today the well had reached total depth of 1,439 metres. After
drilling horizontally for approximately 90 metres the drill became stuck and considerable time was spent
freeing the assembly from the formation.
It was then decided to drill into the next sand a highly deviated well was drilled approximately 100 metres
without recovering gas to surface and a decision has been made to suspend the well pending further
analysis of the total results.
An overriding royalty of 5% of the wellhead value of any hydrocarbon production is payable to Roma
Petroleum N.L. a former holder of the permit PEP 157.
Yours sincerely
LAKES OIL N.L.
ROBERT J. ANNELLS
Chairman
Internet Site: www.lakesoil.com.au
Email Address: [email protected]