reserves of approximately 5.2 million barrels of o 5.2 million...

reserves of approximately 5.2 million barrels of o 5.2 million barrels of oil that is what is about.....once it is confirmed.....LGO,

As previously stated, the Yellowbank Creek oilfield has estimated remaining reserves of approximately 5.2 million barrels of oil.

Longreach Oil has a 22 per cent shareholding in Brisbane Petroleum NL and noted any commercial oil discovery in the Yellowbank Creek area would be of benefit to Longreach Oil.

Mr Leslie said Enterprise had declared the Yellowbank Creek-4 well as a future oil producer after a second successful drill stem test conducted over an oil interval in the Surat Basin target.

"The well intersected the target Showground Sandstone at 1,842 metres and drilled 6 metres of friable to cemented sandstone with fair to good visual porosity and containing good oil staining throughout," he said.

"This 6 metre interval compares favourably with Yellowbank Creek-2 and Yellowbank Creek-3, where this unit is 4.5 metres thick and 5.5 metres thick respectively.

"Results indicate that the Showground Sandstone is probably at "virgin" reservoir pressure and has not been depleted by the production from the Yellowbank Creek 2 and 3 wells.

"Oil and mud filtrate recovered on test show the oil is similar in appearance to that produced by those two Yellowbank Creek wells," Mr Leslie declared.