Intermediate logging of secondary objectives over the
interval 808m to 2589m MD has been completed, and the
well is now being drilled ahead to the primary target, Virgin
Hills Formation.
Current Operations: Running in hole after trip for bit change
Hydrocarbon indications:
Strong mud gas shows over the interval 2240m to 2470m
MD have now been evaluated by wireline logging: see
comments below.
Participants in the well
(post earning):
ARC Energy Limited - 38.95% (Operator)
Empire Oil and Gas NL - 14.8%
Emerald Oil & Gas NL - 12.75%
Pancontinental Oil & Gas NL - 10.0%
Phoenix Resources PLC - 10.0%
First Australian Resources Limited - 8.0%
Indigo Oil Pty Ltd - 5.5%
Page 3
Comment:
Several strong gas peaks were recorded from monitoring
gas in the drilling fluids (“mud gas”) over the interval 2240 to
2470m measured depth (MD). These were considered
sufficiently material to warrant an intermediate wireline
logging run over the gross open-hole interval 809m to 2589m
MD, and this has now been completed.
Preliminary analysis of the wireline log results indicates the
presence of porous (15%) and permeable sandstones of the
Lower Anderson Formation over the gross interval 2100 to
2260 m MD. A preliminary interpretation of the electric logs
and MDT results indicates low hydrocarbon saturations,
including the zones of strong mud gas shows at 2240 m to
2260m MD. These Lower Anderson sands and their lateral
equivalents are the primary target of the Stokes Bay 1 well,
which will target them in a crestal location on the structure.
Please note that at Valentine-1 the secondary reservoir
objective Anderson Formation sands are not mapped within
closure. This 160 metre gas show interval in Valentine-1
within the Anderson Formation enhances the prospectivity of
these objectives in the updip location in the Stokes Bay-1
well.
The Stokes Bay 1 well will be drilled following Valentine 1.
The strong mud-gas shows in the deeper Laurel Fm (2400 m
to 2470m MD) are interpreted as being associated with a
series of organic rich tight carbonates and shales.
The results to date at Valentine 1 are very encouraging for
the prospectivity of the updip Stokes Bay well, and also for
the regional prospectivity of the Basin as they confirm the
presence of a significant hydrocarbon system in the Fitzroy
Trough of the greater Canning Basin, and have confirmed
the presence of reservoir quality sands and high quality
shale seals.
Since wireline logging, at 0600 hrs today, the well has been
deepened by 106m (to 2695mMD) towards the Virgin Hills
primary objective prognosed at 3222mMD. In drilling the
additional 106m, further elevated gas readings have been
recorded, and these have yet to be evaluated.
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