Adelphi Energy Limited
Ground Floor, 88 Colin Street, West Perth, Perth Western Australia 6005
PO Box 574, West Perth, Western Australia 6872
Tel: 61-8 9480 1300 Fax: 61-8 9263 4688
Email: [email protected]
20 November 2007
Company Announcements Platform
Australian Stock Exchange Limited
Exchange Centre
20 Bond Street
SYDNEY NSW 2000
Via ASX Online
SUGARLOAF OPERATIONS UPDATE
Kennedy #1H Well
Well logging operations over the open horizontal portion of the Kennedy-1 well have been completed and a 4-1/2 inch liner is presently being run to the measured Total Depth of 16,750 feet.
Interpretation of the logs indicates several extended zones of potential pay in the upper part of the Austin Chalk sequence. A liner is presently being run as the first step in an extensive fracture stimulation and testing program.
It is considered that the log results at the Kennedy-1 well are encouraging in their own right. However, this horizontal well represents the early stage in the appraisal of a new reservoir and stratigraphic play and will require careful selection of a fracture stimulation program to optimise the flow and recoverability of any hydrocarbons. As such, the test program at Kennedy is not likely to commence for several weeks.
Sugarloaf-1 Well
The well is currently shut-in and is preparing to run completion tubing in order to carry out longer term production and pressure tests.
Since the last report on Wednesday 14th November, gas and condensate production has continued to decline and gas, condensate and water flows became intermittent. During this test period gas was produced at a maximum rate of 387,000 cubic feet per day. A total of 51 barrels of condensate and 391 barrels of water (mostly frac fluid but with formation water being produced in the latter stages of the test) were also recovered over the period.
Analyses of the formation water are characteristic of a formation below the Austin Chalk and it is likely that the frac has penetrated to below the Austin Chalk target zone and is allowing water production into the well. Further well testing will be required in order to confirm the source of the formation water and hydrocarbons.
The Operator, Texas Crude Energy Inc. has advised that it does not expect further tests to be carried out on the Sugarloaf 2 and 3 (middle and upper) zones until the test on the Kennedy well has been concluded.
ASX Release 20 November 2007 - Sugarloaf Operations Update 2
Adelphi, through its wholly owned US subsidiary Adelphi Energy Texas, Inc., has a 20% interest in the Sugarloaf Project which includes the Sugarloaf-1 and Kennedy #1H wells.
For further information please contact Chris Hodge on 08 9480 1300 or [email protected].
CHRIS HODGE
Managing Director
Adelphi Energy Limited
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