nt index oil partners opinion

Ilse 1 / New Taiton

Ilse 1, an exploration well in the New Taiton project located in Wharton County, Texas (approximately 100km southwest of Houston), will target stacked Wilcox sands, on trend with nearby gas fields that have cumulative production in the 30 BCF range from the same reservoirs.

New Taiton is a well-defined structural play targeting Middle Wilcox sands at a depth of 14,000 to 17,000 feet. It is situated some 10km from, and on trend with, existing gas fields which typically produce from the Middle Wilcox.

The prospect is clearly identified by 3D seismic data and shows strong seismic attributes corresponding with the mapped structural closure.

If Ilse 1 proves successful the Company expects to participate in further wells to develop the potential of the New Taiton area. As such, Ilse 1 could, in a success case, lead to Index's participation in what will be a significant field development for the Company.

It is expected that Ilse 1 will spud in the fourth calendar quarter of 2006 with a proposed Total Depth (TD) of around 17,000 feet. Index has taken a 10% Working Interest in the New Taiton project and Ilse 1. After payout Index’s working interest becomes 8%.




i also see they announced a little on the drilling..




Ilse 1

Ilse 1, an exploration well in Wharton County, Texas, that has reached its planned total depth of 17,000 feet, has been logged. Logs reveal multiple zones of interest in the well, a potentially high impact well for Index. The operator has set a liner in preparation for subsequent testing of key zones of interest. Once these flow tests have been conducted, Index will release the results of the well.