ITC impress energy limited

I thought you were kidding but here's one from Roma Petroleum.20...

  1. 1,747 Posts.
    I thought you were kidding but here's one from Roma Petroleum.

    20 December 2004
    Company Announcements
    Australian Stock Exchange Limited
    Level 4, 20 Bridge Street
    SYDNEY NSW 2000

    Dear Sir

    RE: MIRAGE 1 – BEING COMPLETED AS NEW OIL FIELD DISCOVERY, PEL 115,
    SOUTH AUSTRALIAN COOPER BASIN

    Roma Petroleum NL has been advised by the Operator of PEL 115 that Mirage 1 is being cased for
    production as a new oil field discovery as a result of favourable results from analysis of the wire line logs,
    sidewall cores and re-analysis of Drill Stem Test No 1.

    Wire line logs, sidewall cores and down hole wire line formation sample testing run over the weekend
    indicate a gross oil column of 17 metres extending from 1,320-1,337 metres. A potential 6 metres of net pay
    is interpreted from the wire line logs and sidewall cores.

    The results of Drill Stem Test No 1 carried out on 12 December 2004 over the interval 1,322-1,329 metres
    have undergone further interpretation. It now appears that the drill stem test was only partially mechanically
    successful as the tool plugged shortly after the tool was opened.

    Prior to plugging of the tool, an initial oil influx into the drill pipe at a rate of 500 barrels of oil per day was
    observed. This rate is greater than the rate of 150 barrels of 54 API oil per day initially reported.

    The total oil column of 17 metres within the Murta Formation of Mirage 1 will be tested through cased hole
    with completion and production testing planned to commence on January 11, 2005.

    The determination of the recoverable oil reserves for the Mirage Oil Field will be subject to the production
    testing results and further development drilling on the Mirage oil Field.

    Mirage 1 is 5 kilometres to the east of the Ventura 1 oilfield recently discovered by the Consortium. The
    Mirage field is a robust conventional anticlinal prospect, similar in style to the Ventura structure.

    Participants in the drilling program in Petroleum Exploration Licence 115 Cooper Basin, South Australia and
    their respective interests are:
    Victoria Petroleum NL (Operator) 40%
    Roma Petroleum NL 20%
    Impress Ventures Ltd 15%
    Entek Energy Ltd 12.5%
    Tacnas Pty Ltd 12.5%

    Yours faithfully
    C W Siller
    Chairman of Directors
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.