where to from here, page-9

nothing we don't know but definitely upbeat article on results of Auk.

Sinopec confirms Great Auk potential5/19/2009 8:29:17 PM GMT


MELBOURNE, AUSTRALIA: Sinopec has confirmed the intersection of a seven meter (23-ft) hydrocarbon column in the KL1a sand of the Great Auk-1 exploration well.

The samples collected together with the pressure data confirm the presence of a heavy or wet gas with a high condensate to gas ratio of approximately 100 bbl/MMscf.

This well represents the first gas discovery on the Puffin permit. While the volumes in this particular structure are unlikely to be commercial at this stage, the outcome of this exploration well provides considerable insight to the future exploration potential within the region.

Sinopec earlier this month discovered a six- to seven-meter (19.6- to 23-ft) column of hydrocarbons at the Great Auk-1 exploration well in the Puffin field of the Vulcan Sub Basin in the Timor Sea off Australia.

The discovery was made in Puffin K1a sands at around 2,200 meters (7,217 ft) below the rotary table. Seadrill jackup West Atlas drilled the exploration well in around 60 meters (198 ft) of water. The surface location of the Great Auk-1 well is around 10 kilometers (6.2 miles) south of the Puffin-9 discovery and 16 kilometers (9.9 miles) to the west of the Skua oil field.

The Great Auk-1 well is the first of a possible two well program. Sinopec and AED Oil have decided that should there be enough time remaining in the drilling program, the second well will be an appraisal well drilled updip of Puffin-9. In Puffin-9, a six-meter (19.6-ft) column of oil was discovered in the UK1a sands and around four meters (13 ft) of oil was discovered in the LK1a sands.

Sinopec operates the Puffin field after Australia's AED Oil completed the sale of 60 percent interest in the assets held under the AC/P22, AC/L6 and AC/RL1 permits to Sinopec. AED still holds the remaining 40 percent interest.

West Atlas has now been relocated to the Puffin-13 appraisal well located 450 meters (1,476 ft) south of Puffin-9. Puffin-13 well test the updip potential of the structures identified by Puffin-9, drilled by AED in 2006 and discovered oil in both the UK1a and LK1a sands. AED expects the Puffin well to spud by May 20.