Perth, Feb 25, 2008 AEST (ABN Newswire) - Empire Oil & Gas N.L. (ASX: EGO) Drilling Progress Report dated 25 February 2008 for the Period 0600 hrs 22 February 2008 to 0600 hrs 25 February 2008. During the 72-hour period drilled ahead 8 1/2" hole from 1199m to 1490m in the Yarragadee Formation and commenced tripping for a new drill bit at 1600 hours, 24 February 2008. At 0600 hours 25 February 2008 running in hole with a new drill bit to drill ahead in 8 1/2" hole to reservoir objectives.
MORIARY-1 PETROLEUM EXPLORATION WELL
EP 426 NORTH PERTH BASIN
WESTERN AUSTRALIA
1. Well Name/Permit Moriary-1/EP 426, North Perth Basin, Western Australia
2. This Report is for the Period: The 72 hour period 0600 hours WST 22 February 2008 to 0600 WST 25 February 2008
3. This ASX Release Time and Date: 0930 hours 25 February 2008
4. Report No: 10
5. Spud Date/Rig: 1300 hours 12 February 2008/ADS Rig 6
6. Days since Spud: 13
7. Location of Well: Latitude 290 17' 01.469" S/Longitude 1150 20' 19.081" E
8. Elevation: G.L. 178.32 metres RKB: 182.64m
9. Total Depth: 2550m RKB
10. Targets: Cattamara Coal Measures - 2085m 'F' Sand, 2335m 'J' Sand and 2435m 'L' Sand.
11. Present Depth: 1490 metres at 1600 hours, 24 February 2008. Trip for new drill bit.
12. Geological Summary: At 2400 hours 24 February 2008
Yarragadee Formation:
1135-1290m sandstones and claystones
1290-1336m sandstones and claystones with coal seams, dull to sub vitreous
1336-1415m claystones with thin sandstone beds
1415-1490m sandstones and interbedded claystones
13. Operations since last Report: Drilled ahead from 1199 metres to 1490 metres at 1600 hours, 24 February 2008. Ran survey straight hole. Trip for new bit. Run in hole at 200m at 0600 hours, 25 February 2008.
14. Current Operations: Running in the hole with new drill bit at 200m @ 0600 hours 25 February 2008.
15. Future Operations: Drill ahead in 8 1/2" hole from 1490 metres to reservoir objectives predicted between 2085 to 2580 metres.
16. Hydrocarbon Indications: Gas Show: At 1364m, 35 units total gas Chromatograph Gas Readings: 7,000 ppm C1 (methane) Oil Show: weak, 1465-1485m. In 1465m sample, dull white fluorescence, no cut. Gas Readings: 1465 - 1485m, 8 to 10 units total gas Chromatograph Reading: 161 to 4788 ppm C1, C2 trace.
17. Prospect Description: The Moriary Prospect is an anticlinal structure, similar to the Mt Horner Oilfield with reservoir objectives the 'F', 'J' and 'L' Sands of the Jurassica-aged Cattamarra Coal Measures. Potential recoverable oil reserves are estimated to be 'F' Sands 3 million barrels, 'J' Sands 4 million barrels and 'L' Sands 4 million barrels.
18. Participants in the well:
Empire Oil & Gas N.L. (Operator) - 40%
Allied Oil & Gas Plc - 25%
Black Fire Energy Limited - 10%
ERM Gas Pty Ltd - 25%
Contact
Managing Director
Mr Craig Marshall
TEL: +61-8-6389-2687
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