kiana bpt

Late announcement...

KIANA-1 EXTENDED PRODUCTION TEST COMMENCED
Beach Petroleum advises the results of the 10 day well test conducted in November at Kiana-1 confirmed the oil producing Patchawarra sandstone (1941-1946 metres) is of good reservoir quality and laterally continuous. Following this successful conclusion, a 6 month Extended Production Test commenced on Wednesday 14th December and the well is currently free-flowing at 450 barrels of oil per day with no water.
Kiana-1 is located in PEL 107, approximately 2 kilometres to the southwest of the Muteroo Oil Field, 2 kilometres northeast of the Spencer Oil Field, and 35 kilometres west of Moomba (See map).
It is planned to continue production at approximately 450 barrels of oil per day. In late January /early February a lower sand from 1964.5-1967.5 metres will be perforated and is expected to initially add a further 200-400 barrels of oil per day to the production rate.
Plans for water handling facilities and artificial lift are being progressed for installation in mid 2006.
Joint Venture Participants in the Kiana -1 well are:
Beach Petroleum Ltd. (Operator) 40.00%
Great Artesian Oil and Gas Ltd 30.00%
Magellan Petroleum Australia Ltd 30.00%