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Empire Oil & Gas (ASX:EGO) MORIARY-1, EP 426, Petroleum Drilling Progress Report No 19
Perth, Mar 7, 2008 (ABN Newswire) - Empire Oil & Gas N.L. (ASX: EGO)(PNK: EOLGF) Drilling Progress Report dated 7 March 2008 for the Period 0600 hrs 6 March 2008 to 0600 hrs 7 March 2008. Present depth as of 0600 hours, 7 March 2008 is 2406 metres.
During the 24-hour period drilled ahead 8 1/2" hole from 2360m to 2406m.
Top Cadda Formation intersected 2156m.
Top Cattamarra Formation 2207.5m.
Top 'E' Shale 2389m.
Predicted Top ‘F’ sand reservoir 2446m.
Future Operations: Drill ahead to the Cattamarra reservoir objectives.
Oil shows - see attached.
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 6 March 2008 to 0600 WST 7 March 2008
3. This ASX Release Time and Date: 0930 hours 7 March 2008
4. Report No: 19
5. Spud Date/Rig: 1300 hours 12 February 2008/ADS Rig 6
6. Days since Spud: 24
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: 2406 metres at 0600 hours, 7 March 2008.
12. Geological Summary: At 2400 hours at 6 March 2008 for the interval 2340m - 2405m (the reporting period)
2340m - 2365m Claystone 100%
2365m - 2390m Sandstone 100%
2390m - 2405m Claystone and coal seams
Top Cattamarra 'E' Shale - 2389m
Predicted Top Cattamarra 'F' Sand - 2440m
13. Operations since last Report: Drilled ahead 8 1/2" hole from 2360m to 2406 @ 1200 hours, 6 March 2008 Wiper Trip - Rig repair, completing wiper trip @ 0600 hours, 7 March 2008.
14. Current Operations: Complete wiping bore hole clean (wiper trip) with pulling 18 stands of drill pipe and then running back in the hole to drill ahead
15. Future Operations: Drill ahead in 8 1/2" hole from 2406 metres to reservoir objectives in the Cattamarra.
16. Hydrocarbon Indications: Oil Shows: Moderate oil show, 2366m - 2370m Sandstone, toward the base of unit D of the Cattamarra, 2% dull yellow white fluorescence. The fluorescence from very fine grained sandstone, brown oil staining evident, cut fluorescence, slow and streaming Gas: Peak of 3 units at top oil fluorescence sand at 2366m Chromatograph Gas Reading: 2348m - 2405m, 100 to 635 ppm C1 (methane) and 0 - 68 ppm C2 (ethane) The 'D' sand oil show is to be further evaluated by electric wireline logs to be run at the end of the well. The primary reservoir objective is the Cattamarra 'F' sand predicted at 2446m.
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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