Victoria Petroleum N.L. (Vicpet) as operator for the PEL 111...

Victoria Petroleum N.L. (Vicpet) as operator for the PEL 111 Joint Venture advises the
operation at 0600 hours today at the Snatcher-2 exploration well was drilling ahead in 8 ½
inch hole at 1,659 metres towards the target Birkhead Sandstone.
The Snatcher Prospect is situated on the Western Margin Oil Trend, with Snatcher-2 a test
of whether oil can be stratigraphically trapped within seismically interpreted discrete sand
bodies in channel systems present within the Jurassic Birkhead Formation. The target
sand for Snatcher-2 produced oil from the recent Snatcher-1 oil discovery, 899 metres to
the south east of Snatcher-2 at a rate of 218 barrels of oil per day.
Snatcher-2 is planned to be drilled to a measured total depth of 2,000 metres. Drilling
reports will be provided to the ASX on a weekly basis and as significant events occur.
The participants in the drilling of Snatcher-1, Snatcher-2, PEL 111 and their respective
interests through their wholly owned subsidiaries are as follows;
Victoria Petroleum N.L. (Operator) 40%
Impress Energy Limited 40%
Permian Oil Pty Ltd. 20%


cheers DC