DVM International acquires equity in West AustralianOil and Gas...

DVM International acquires equity in West Australian
Oil and Gas Projects
New oi l and gas explorat ion company DVM Internat ional Ltd (DVM) announced
today a deal that wi l l resul t in i t part icipat ing in two onshore explorat ion wel ls in
Western Aust ral ia wi thin three months.
DVM has farmed into three petroleum explorat ion permi ts in the prospect ive
Carnarvon Basin north of Perth in a deal involving Empire Oi l & Gas NL. The
move is part of a redirect ion that DVM announced in December 2007.
The latest deal wi l l resul t in DVM earning varying interests in Petroleum
Explorat ion Permi ts EP-439, EP-5 and EP-6, al l of which are located in the
onshore Carnarvon Basin of Western Austral ia, by contribut ing to an agreed work
program. Its part icipat ion wi l l involve the dri l l ing of two onshore oi l and gas
explorat ion wel ls, which are ant icipated to commence dr i l l ing back-to-back in
Apri l and May 2008.
DVM wi l l cont ribute 40% of the costs of dri l l ing the Star Finch 1 explorat ion wel l
to earn a 20% interest in EP-5. The Star Finch structure is a compressional
ant icl ine feature, the main object ives being porous Birdrong Sandstone sealed by
the regional ly extensive marine shales of the Muderong Shale. Seismic l ines over
the ant icl ine exhibi t bright ampl i tudes at the Bi rdrong Sandstone, Windal ia
Radiolari te and lower Gear le Si l tstone Reservoi r uni ts. These ampl i tudes die out
at about the spi l l point of the structure. Simi lar seismic anomaly events are present
over the nearby Tubridgi Gasfield and at some offshore gasfields located wi thin
the Carnarvon Basin. The Star Finch structure has the potent ial for an est imated 50
bi l l ion cubic feet of gas, i f gas is present and the st ructure is fi l led to spi l l point .
DVM wi l l also contribute 20% of the costs of dri l l ing the Lake MacLeod 1
explorat ion wel l to earn a 10% interest in EP-439 and EP-6. The Lake MacLeod
structure is an ant icl inal feature where Devonian aged sediments drape over an
older Si lurian faul t block. The Devonian sect ion in the nearby Quobba 1 wel l
demonst rated good reservoi r, seal and source and the wel l encountered both oi l
and gas shows. The main object ives in Lake MacLeod 1 are porous dolomi tes of
the Gneudna Format ion.
DVM INTERNATIONAL LTD 2
DVMI0C0ASX208
www.dvminternational.com
Suite 6, 6 Richardson Street West Perth WA 6005 Australia
T +61 8 9226 3575 F +61 8 9226 3590 ABN 80 072 964 179
The Lake MacLeod structure has the potent ial to contain up to an est imated 150
mi l l ion barrels of recoverable oi l , if oi l is present and the st ructure is fi l led to i ts
maximum possible spi l l point .
Appl icat ions EP-5 and EP-6 have f inal ised nat ive t i t le agreements and are
expected to be granted in the next few weeks.
The part icipants in the wel ls are:
Company EP-439 & EP-6 EP-5
Lake MacLeod 1 Star Finch 1
Empi re Oi l & Gas NL 30.356% 22.856%
(Rough Range Oi l Pty Ltd)
Longreach Oi l Limi ted 9.352% 9.352%
Indigo Oi l Pty Ltd 4.676% 4.676%
Falcore Pty Ltd 2.596% 2.596%
Vigi lant Oi l Pty Ltd 0.52% 0.52%
Jurassica Oi l & Gas Plc 35.00% 40.00%
Black Fi re Energy Limi ted 7.50% 0.00%
DVM Internat ional Limi ted 10.00% 20.00%
DVM is reviewing other projects and wi l l keep shareholders ful ly updated on
progress
.
This announcement has been reviewed by the Company’s Managing Director,
Ivan Burgess who is a pet roleum geologist wi th about 30 years experience.
For further informat ion contact :
Ivan BURGESS
Managing Director