Should get to the oil zone in about 7 days from now.PROGRESS...

Should get to the oil zone in about 7 days from now.

PROGRESS REPORT NO. 3

- DRILLING OF COELACANTH 1 WELL
VIC/P45 – OFFSHORE GIPPSLAND BASIN

Moby Oil & Gas Limited (ASX Code: MOG) advises that the Coelacanth 1 well in Vic/P45 has drilled to 1998 metres.

Current operation is pulling out of the hole, preparatory to changing the bit, the logging-while-drilling tools and the bottom-hole assembly.

Total depth of the well is planned to be 3,038 metres.

Participants are:
Apache Northwest Pty Ltd (Operator) 66.67%
Moby Oil & Gas Limited 16.66%
Exoil Limited 16.67%