plymire road 4-14 well update

5 December 2005
Announcements Officer
Australian Stock Exchange Limited
Sydney NSW
Production testing to proceed on several potential gas zones
Plymire Road 4-14 Well Update - Northern Sacramento Gas Project
The Plymire Road 4-14 ceased drilling at a total depth of 5323 feet upon reaching the Guinda
Formation target. Although the Guinda Formation was water bearing, the well did encounter
hydrocarbon shows in Cretaceous sediments shallower than the Guinda target. This intersection
appears to consist of a broad zone of gas in intercalated shales and sandstones. This discovery
is in addition to the previously announced gas indications in the Princeton Gorge Formation.
Based on discussions with consultants and advisors, Pacrim Energy has decided to set casing
down to this new Cretaceous zone and to proceed with flow testing of this and the Princeton
Gorge Formation higher up the hole. A service rig is to be contracted to test the potential
hydrocarbon bearing zones at Plymire 4-14 as soon as possible, thus allowing the drilling rig to
continue drilling operations.
The drilling rig is being relocated to the third well site, Red Bluff, in line with the Company’s
2005 exploration programme. The Red Bluff Ranch (Home Ranch) site has been gravelled for
weather proofing and the Red Bluff Ranch 1-16 well is expected to be spudded Monday 5
December, California time.
Comments
At this stage Plymire 4-14 has encountered hydrocarbons in two separate formations which is
very encouraging. The significance of the hydrocarbon indications will not be known until
testing operations are carried out utilising a service rig.
The gas indications in a new Cretaceous zone are particularly interesting. If testing proves
successful, this could open a new focus of exploration in the general area where Pacrim Energy
has a significant acreage position with over 50,000 acres under lease. However, the
Company’s board understands the risk of confirming gas on this new zone is significantly
higher than the Princeton Gorge Formation as there is limited information on the new zone.
Pacrim Energy has a 100% working interest in the Red Bluff Ranch 1-16 well, located within a
major acreage position in this area of the Northern Sacramento Basin.
Rodney D Foster
Managing Director
BSc, Geol MAusIMM
The geological information contained in this announcement has been compiled from information provided and reviewed by Robert Rosenthal a
qualified geologist and consultant to Pacrim Energy Limited, with 28 years experience in petroleum industry. Mr Rosenthal has consented to
the inclusion of the geological information in this announcement in the form and context in which it appears.