re: free flowing gas QUEENSLAND GAS COMPANY LIMITED
ABN 11 089 642 553
Level 11
307 Queen Street, Brisbane QLD 4000
GPO Box 3107, Brisbane QLD 4001
Tel: 07 3004 1000 Fax: 07 3012 8411
Website: www.qgc.com.au
Email: [email protected]
20 July 2005
ASX ANNOUNCEMENT
LAUREN WELL FREE-FLOWING GAS
Queensland Gas Company Ltd (QGC) announced today that the Lauren #2 well in ATP620P flowed gas at 550,000 cubic feet per day (cfd) during the past week without the aid of pumping.
The Lauren #2 well is QGC’s second well in the Surat Basin to free-flow at rates over 500,000 cfd for an extended period. The Berwyndale South #9 well, located some 10 km to the north in PL201 flowed gas at over 1.1 million cfd during production testing earlier this year.
“Free-flowing wells are significantly more profitable than traditional coal seam gas wells, as expensive pumping equipment is not required, and in-field gas usage is minimised”, said QGC’s Managing Director, Mr Richard Cottee. “The natural gas lift experienced at Berwyndale South #9, and now replicated at Lauren #2 could reduce estimated field operating costs by up to 20%”.
Lauren #2 is part of a three well mini-pilot located 10km south west of the Argyle Gas field and 10km south east of the Berwyndale South Field. Its location is shown on the accompanying map.
If the results from Lauren #2 are able to be replicated in QGC’s drilling programme at Berwyndale South in August, QGC will design its Berwyndale South Gas field development planned to come onstream by March 2006 to capture these enhanced economies.
ATP 620P (Lauren) is owned 59.375% QGC and 40.625% Pangaea Oil & Gas Pty Ltd; PL201 (Berwyndale South) is owned 90% QGC.
For further information contact:
Mr Richard Cottee
Queensland Gas Company Limited
Telephone: (07) 3004 1000
Facsimile: (07) 3012 8411
Email: [email protected]
Website: www.qgc.com.au
QGC
queensland gas company limited
