Perth, July 10, 2008 AEST (ABN Newswire) - Empire Oil & Gas (ASX:EGO)(PINK:EOLGF) Announce the current operations at the Star Finch-1 well at 0900 hours on 10 July 2008 is preparing to run the 244mm (9 5/8") casing and cement and install blow out prevention equipment.
Drilled the 12 1/4" hole to 118 metres being the 9 5/8" casing point as of 2400 hours 9 July, 2008.
STAR FINCH-1 PETROLEUM EXPLORATION WELL EP 460, WESTERN AUSTRALIA
1. Well Name/Permit Star Finch-1/EP 460, Western Australia
2. This Report is for the Period: 0900 hours WST 9 July 2008 to 2400 hrs WST 9 July 2008
3. This ASX Release Time and Date: 0900 hours WST 10 July 2008
4. Report No: 3
5. Spud Date/Rig: DCA Rig 7 0600 hours WST 8 July 2008
6. Days since Spud: 2
7. Location of Well: Latitude 240 44' 00' S Longitude 1130 44' 20" E
8. Elevation:
G.L. Above MSL - 6 metres
RT. 3 metres
RT to GL 10 metres
9. Proposed Total Depth: 450 metres
10. Targets: Primary Reservoir Objective: Birdrong Sandstone @ 390 metres
11. Present Depth: At 0900 hours 10 July 2008, 118 metres
12. Geological Summary: At 2400 hours 8 July 2008, 55 to 118 metres Cretaceous Korojon Calcarenite: White clayey, sandy limestones
13. Hydrocarbon Indications: At 2400 hours 9 July 2008: None. No hydrocarbons are anticipated in sediments or the Korojon Calcarenite
14. Operations since last Report: Drilled 12 1/4" hole from 55 metres to 118 metres.
15. Current Operations: At 0900 Hours 10 July, 2008. Preparing to run and cement 244mm (9 5/8") casing and cement.
16. Future Operations: Run 9 5/8" casing and cement, install blowout prevention equipment, pressure test, drill ahead 8 1/2" hole to reservoir objectives.
17. Prospect Description: The Star Finch Prospect is a reverse faulted anticlinal structure formed by mid-Miocene compression. Potential hydrocarbons in the Star Finch structure are interpreted to have migrated up out of the Devonian sediments by faulting and fracturing during this compression. The main objective in the Star Finch Prospect is the Birdrong Sandstone. The nearby Bibbawarra Bore encountered approximately 15 metres of Birdrong Sandstone sealed by 27 metres of Muderong Shale. The prospect covers a large area of 3,000 hectares and potential recoverable reserves are estimated to be of the order of 50 billion cubic feet of gas or 25 million barrels of oil assuming a 5 metre oil leg. The Star Finch Prospect demonstrates bright seismic anomalies over the mapped closure. Bright anomalies have been a successful indication in many cases for natural gas entrapment in the Carnarvon Basin.
18. Participants in the well:
--------------------------------------Empire Oil & Gas N.L. (Rough Range Oil Pty Ltd - Operator) - 22.856%Jurassica Oil & Gas Plc - 40%Longreach Oil Limited - 9.352%Indigo Oil Pty Ltd - 4.676%Falcore Pty Ltd - 2.596%Vigilant Oil Pty Ltd - 0.52%DVM International Limited - 20%------------------------------------
Contact
Empire Oil & Gas N.L.
Managing Director
Mr Craig Marshall
Tel: +61-8-6389-2687
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