white eagle kansas: polymer treatment update

White Eagle Kansas - Polymer Treatment Update:

http://sa.iguana2.com/cache/58feb179c47863d9832ea5fb14caf6ee/ASX-AMU-326887.pdf

Extract:
"The Directors of Amadeus Energy Limited wish to announce the results of the polymer treatments carried out to date on the White Eagle project, Kansas USA.
The treatments commenced on 22 April 2006 and to date, six wells have been treated. In all cases the results have been successful, resulting in increased oil and lower water production, which substantially reduces operating costs for the field.

Prior to commencement of the treatment of these wells, combined production was 16 barrels of oil per day (bopd) and 2,750 barrels of water per day (bwpd). Post treatment oil production increased to just
below 200 bopd and water production reduced to 600 bwpd. Oil production has since stabilised to approximately 150 bopd.

It is planned to continue the polymer treatment programme and complete a total of 30 wells back-toback.
Each well costs approximately $US70,000 (100%) to complete and the average pay-back for the six wells is 45 days.

Amadeus acquired the White Eagle project in October 2005 with a working interest (WI) of 85%. The field is spread across 113 petroleum leases containing 300 producing wells located across 16 counties, covering 18,240 acres.
The operator, TNT Engineering Inc plans to drill up to 30 development wells during the next 12 months across Amadeus’ current USA producing properties. (Average WI: 75% – 85%)"