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Empire Oil & Gas (ASX:EGO) MORIARY-1, EP 426, Petroleum Drilling Progress Report No 16
Perth, Mar 4, 2008 (ABN Newswire) - Empire Oil & Gas N.L. (ASX: EGO) Drilling Progress Report dated 4 March 2008 for the Period 0600 hrs 3 March 2008 to 0600 hrs 4 March 2008. Present depth as of 0600 hours, 4 March 2008 is 2210 metres. During the 24-hour period drilled ahead 8 1/2" hole from 2152m to 2210m. Top Cadda Formation intersected 2156m. Top ‘F’ sand Cattamarra reservoir predicted 2416m.
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 3 March 2008 to 0600 WST 4 March 2008
3. This ASX Release Time and Date: 0930 hours 4 March 2008
4. Report No: 16
5. Spud Date/Rig: 1300 hours 12 February 2008/ADS Rig 6
6. Days since Spud: 21
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: 2210 metres at 0600 hours, 4 March 2008.
12. Geological Summary: At 2400 hours, 3 March 2008 (the reporting period)
2125m – 2155m - Sandstone well cemented (Basal Yarragadee)
2155m - 2185m - Claystone, sl.calcitic, dolomite fragments, pyritic in part (Cadda Formation)
Top Cadda Fm 2156.5m
Top Cattamarra Formation 'F' Sand predicted at 2416m
13. Operations since last Report: Drilled ahead 8 1/2" hole from 2152 to 2210m @ 0600 hours, 4 March 2008. Slow drilling in hard sandstones and claystones of Cadda Formation.
14. Current Operations: Drilling ahead at 2210m @ 0600 hours, 4 March 2008.
15. Future Operations: Drill ahead in 8 1/2" hole from 2210 metres to reservoir objectives in the Cattamarra.
16. Hydrocarbon Indications: Gas Peak: 2127m - 2186m, 2 units (Slow drilling) Chromatograph Reading: 2127m - 2186m, 100 to 500 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%
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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