ASX ANNOUNCEMENT 21 April, 2005 Clarence Moreton Basin Exploration Well Flows 200,000 CFD Dry Gas The Directors of Arrow Energy NL [Arrow] are pleased to announce a successful gas flow from exploration well Silverdale-1 in Authority to Prospect 641P. The well is located near the township of Boonah, approximately 50 kilometres southwest of Brisbane, close to the Cunningham Highway. Approximately 24 metres of net coal was intercepted in the well with one particularly thick coal seam of 8 metres thickness at a depth of 430 metres. This is an exploration hole and as such the well has a diameter of only 6” compared with 16” used for production enhancement purposes in the Surat Basin production wells. However, even without these enhancements the well flowed 200,000 cubic feet per day (MCFD) on test. After shut in the wellhead pressure built up to 260 psi. Silverdale-1 is the first Coal Seam Gas (CSG) well to be drilled on the western flank of the Clarence-Moreton Basin in an area known as the Laidley Sub-basin. This is a feature approximately 80 km by 25 km running the length of the basin. Arrow Energy has the entire area under Authority to Prospect with 100% equity. For and on behalf of the Board of Directors JPK Marshall Company Secretary This announcement has been approved by the board of Arrow and the technical information herein has been provided by a consultant (Dr R W Day) with more than 25 years experience in petroleum exploration. For further information contact: Stephen Bizzell or Nick Davies Phone (07) 3303 0650 Fax: (07) 3303 0651 E-Mail: [email protected]: www.arrowenergy.com.au
AOE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
