Company Announcements Office Australian Stock Exchange Limited 10th Floor, 20 Bond Street SYDNEY NSW 2000
Dear Sir/Madam,
Re: Lago Prospect, Lea County, New Mexico - Fort 21 Well #1 Successful Gas Discovery
Amadeus Energy Limited is pleased to announce that the Lago Prospect - Fort “21” #1 well in Lea County, New Mexico has intersected a significant gas sand in the Carboniferous Morrow Sandstone. Electric logs indicate the Morrow Sand from 13,318 – 13,347 feet with 24 feet of net sand with porosities ranging from 8-12%. The sand has anomalous resistivities and excellent cross-over on the density-neutron logs.
Strong gas shows were also intersected in the Mississippian carbonates below 13,500 feet and these shows may be evaluated at a later date.
The Morrow Sand will be fracced and production tested from the 12th July following completion. The results of this test will be announced when they are received. Further stepout wells may be drilled to develop this significant discovery. Reserve estimates will be known after completion and testing.
Amadeus Energy’s interest in the Fort “21” #1 well is 11.25%.
Yours faithfully,
CAROLINE L BENTLEY Company Secretary / Executive Director
AMU Price at posting:
0.0¢ Sentiment: None Disclosure: Held
