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Empire Oil & Gas (ASX:EGO) MORIARY-1, EP 426, Petroleum Drilling Progress Report No 14
Perth, Feb 29, 2008 (ABN Newswire) - Empire Oil & Gas N.L. (ASX: EGO) Drilling Progress Report dated 29 February 2008 for the Period 0600 hrs 28 February 2008 to 0600 hrs 29 February 2008. During the 24-hour period drilled ahead 8 1/2" hole from 1913m to 1996m.
Future Operations: Drill ahead to the Cattamarra 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 24 hour period 0600 hours WST 28 February 2008 to 0600 WST 29 February 2008
3. This ASX Release Time and Date: 0930 hours 29 February 2008
4. Report No: 14
5. Spud Date/Rig: 1300 hours 12 February 2008/ADS Rig 6
6. Days since Spud: 17
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: 1996 metres at 0600 hours, 29 February 2008.
12. Geological Summary: At 2400 hours 28 February 2008 (the rig reporting period)
Yarragadee Formation:
1885m-1980m Sandstones and interbedded claystones with thin coal seams
13. Operations since last Report: Drilled ahead from 1913m to 1996m at 0600 hours, 29 February 2008
14. Current Operations: Drilling ahead at 1996m @ 0600 hours, 29 February2008.
15. Future Operations: Drill ahead in 8 1/2" hole from 1996 metres to reservoir objectives in the Cattamarra.
16. Hydrocarbon Indications: Gas: 1885m to 1980m. Background Gas Maximum 5 units in Yarragadee with C1 137 to 841 ppm C1.
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%
19. Comment: Note 1: Structural closure interpreted to be beneath 2000 metres RKB.
About EMPIRE OIL & GAS NL
Empire Oil & Gas NL is an Australia-based company that is principally engaged in oil and gas production and exploration. The Company has produced and sold to BP Kwinana Australia Pty Ltd, a total of 30,733 barrels of oil. The Company applied for a Production License 1/04-5L over the Rough Range 1B oil well area. The Company, together with farminees, Phoenix Resources Plc, Black Fire Energy Limited and the EP 435 Joint Venture participants, Australian Oil Company Limited and Bounty Oil & Gas N.L. drilled the Parrot Hill-2 well during April 2007. The Company commenced drilling on April 9, 2007, and reached its total depth of 1,232 meters on April 19, 2007. The Company's wholly owned subsidiaries include Empire Services Pty Ltd, Empire Oil Company (WA) Limited, Gulliver Productions Pty Ltd, Rough Range Oil Pty Ltd and St. George Petroleum Limited
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