Perth, Mar 7, 2008 AEST (ABN Newswire) - Empire Oil & Gas N.L. (ASX: EGO)(PNK: EOLGF) Drilling Progress Report dated 7 March 2008 for the Period 0600 hrs 6 March 2008 to 0600 hrs 7 March 2008. Present depth as of 0600 hours, 7 March 2008 is 2406 metres.
During the 24-hour period drilled ahead 8 1/2" hole from 2360m to 2406m.
Top Cadda Formation intersected 2156m.
Top Cattamarra Formation 2207.5m.
Top 'E' Shale 2389m.
Predicted Top âFâ sand reservoir 2446m.
Future Operations: Drill ahead to the Cattamarra reservoir objectives.
Oil shows - see attached.
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 24 hour period 0600 hours WST 6 March 2008 to 0600 WST 7 March 2008
3. This ASX Release Time and Date: 0930 hours 7 March 2008
4. Report No: 19
5. Spud Date/Rig: 1300 hours 12 February 2008/ADS Rig 6
6. Days since Spud: 24
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.
11. Present Depth: 2406 metres at 0600 hours, 7 March 2008.
12. Geological Summary: At 2400 hours at 6 March 2008 for the interval 2340m - 2405m (the reporting period)
2340m - 2365m Claystone 100%
2365m - 2390m Sandstone 100%
2390m - 2405m Claystone and coal seams
Top Cattamarra 'E' Shale - 2389m
Predicted Top Cattamarra 'F' Sand - 2440m
13. Operations since last Report: Drilled ahead 8 1/2" hole from 2360m to 2406 @ 1200 hours, 6 March 2008 Wiper Trip - Rig repair, completing wiper trip @ 0600 hours, 7 March 2008.
14. Current Operations: Complete wiping bore hole clean (wiper trip) with pulling 18 stands of drill pipe and then running back in the hole to drill ahead
15. Future Operations: Drill ahead in 8 1/2" hole from 2406 metres to reservoir objectives in the Cattamarra.
16. Hydrocarbon Indications: Oil Shows: Moderate oil show, 2366m - 2370m Sandstone, toward the base of unit D of the Cattamarra, 2% dull yellow white fluorescence. The fluorescence from very fine grained sandstone, brown oil staining evident, cut fluorescence, slow and streaming Gas: Peak of 3 units at top oil fluorescence sand at 2366m Chromatograph Gas Reading: 2348m - 2405m, 100 to 635 ppm C1 (methane) and 0 - 68 ppm C2 (ethane) The 'D' sand oil show is to be further evaluated by electric wireline logs to be run at the end of the well. The primary reservoir objective is the Cattamarra 'F' sand predicted at 2446m.
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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