Sydney, May 20, 2008 AEST (ABN Newswire) - Mosaic Oil (ASX: MOS)(PINK: MSAOF) Announce the Weekly Operations Update - Surat-Bowen Basin, Qld Taylor-18 (PL 49 - MOS; 100%)
Taylor-18 has been cased with the 5-1/2" production casing string and suspended for future completion on 18 May 2008. The rig was released at 2400 hrs hrs on 18 May 2008.
The well will be completed for production within 2 weeks by a workover rig currently operated by Mosaic Oil in the area.
Taylor-18 is expected to be connected to the Taylor gathering network by as early as the end of June 2008.
Armstrong-1 (ATP 709P - MOS; 100%)
The Century Rig 7 is being moved to the Armstrong-1 location. The drilling operations are expected to commence within the next few days.
It is expected, on trouble free basis, to take approximately 14 days to drill and evaluate the well, which has a planned total depth of 2360 metres.
Armstrong-1 is an oil exploration well with the Showground Sandstone as the primary target and the Rewan Formation reservoirs as the secondary target. The Armstrong Prospect is located approximately 4 km east of Taylor-11. The Showground Sandstone in Taylor-11 flowed oil to surface at 458 BOPD (barrel of oil per day) with 0.3 MMscfd (million standard cubic feet per day) of gas on open hole Drill Stem Test.
The Armstrong Prospect Showground Sandstone primary target has the potential to contain an estimated mean recoverable resources of 0.47 million barrels of oil and up to 1.1 million barrels of oil in P10 case.
Contact
Mosaic Oil:
Lan Nguyen
Managing Director
Tel: +61-2-9247-9324
Media:
Bill Kemmery
Fortbridge
Tel: +61-2-9331-0655
Mob: +61-400-122-449
| ||
|
