Marina 1 – Encounters Hydrocarbons2nd October, 2007Drillsearch...

Marina 1 – Encounters Hydrocarbons
2nd October, 2007
Drillsearch Energy Limited (“Drillsearch”) announces – Marina 1 Weekly Drilling
Update for the period to 06:00, 1 October 2007.
Permit: WA-318-P
Rig: Wilcraft
Total Depth: 2359 m (TD-Final)
Location: Offshore Western Australia - Bonaparte Gulf.
Approximately 345 kms south southwest of Darwin NT, 55km
off the Kimberley coast.
Operator Drillsearch Energy Limited. Drillsearch is in JV with Esso
Ventures Pty Limited a subsidiary of ExxonMobil.
Progress to TD: Since the last report on 24 September 2007 Marina 1 has
drilled to a total depth of 2359 m MDRT which was reached at
0800 hours on Sunday 30 September 2007.This was
considerably earlier than planned. The excellent integrity of
the well at the 13 3/8” casing point allowed the JV to reach TD
without the need to set an additional string of casing.
Hydrocarbon Shows The well intersected all three of its objective formations.
No hydrocarbon shows were recorded in the upper two
objectives; the Hyland Bay and Keyling Formations.
Gas shows were recorded in the mud logs over at least 5
zones in lower stratigraphic intervals including the third
objective - the Treachery and Kuriyippi Formations. Trace oil
fluorescence was noted in the cuttings in some intervals.
-2-
Forward Operations
on Marina 1
Conduct formation evaluation programme which will include
wireline logging, pressure and fluid samples, side wall cores,
and a checkshot (velocity) survey.
Plug and abandon well as planned.
Drillsearch will evaluate the well results as logging operations
proceed and the other formation evaluation programmes have
been completed.
Commentary Marina 1 has proved an active hydrocarbon system in WA-
318-P, with migration of hydrocarbons to suitable traps.
WA-318-P is a very large Block covering approximately 3000
sq km. Drillsearch looks forward to the future exploration and
appraisal of the Block. Currently the forward plan is expected
to involve acquisition of new seismic followed by a further well.
Next ASX Release
and Commentary
Following completion of the Forward Operations (see above).
Abbreviations: TD: total depth; MDRT: measured depth from rotary table
For enquiries contact:
Philip F. Kelso Managing Director
Michael L. Hutt Company Secretary
Telephone: (02) 9241.4440
Email: [email protected]