Drillsearch Energy Limited Stock Market Press Releases and Company Profile
Announces Bauer Oil Field Drilling Success Continues
Announces Bauer Oil Field Drilling Success Continues

Sydney, Aug 20, 2012 AEST (ABN Newswire) - Drillsearch Energy Limited (googlechartASX:DLS) announced further success as the Western Flank Oil Field Development Program continues, with the completion of the Bauer-6 development well which is being cased and suspended as a future oil producer. The PEL 91 Joint Venture consists of Drillsearch 60% and Beach Energy as Operator 40%.

The Operator has run wireline logs and has confirmed 9 metres of net pay in the Namur and a potential 4 metres of pay in the McKinlay subject to future testing. Minor oil shows were observed in the Birkhead Formation, a secondary drilling target.

The success at Bauer-6 has confirmed that the Bauer Oil Field extends to the north west, with the McKinlay and Namur primary pay zones encountered in Bauer-6 higher than pre-drill estimates.

Drillsearch Managing Director, Brad Lingo said, "The positive result at Bauer-6 continues the success we have achieved at the Bauer Oil Field and increases our confidence that the Bauer Field maybe the largest McKinlay-Namur Oil Discovery on the Western Oil Flank."

The rig will now be moved to Bauer-8 with spud expected early next week. Bauer-8 will be the most northerly well drilled in the Bauer Field and will be seeking to establish the potential for the field to extend significantly further north.

View announcement and diagrams here:
http://media.abnnewswire.net/media/en/docs/ASX-BPT-188927.pdf

Contact

Drillsearch Energy Limited
T: +61-2-9241-4440
F: +61-2-9241-4404
WWW: www.drillsearch.com.au/



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