Sydney, Aug 12, 2008 AEST (ABN Newswire) - Mosaic Oil (ASX:MOS)(PINK:MSAOF) Announce Weekly Operations Update - Surat-Bowen Basin, Qld; West Boggo Creek-1 (PL 16 - MOS 100%)
West Boggo Creek-1 spudded at 1930 hrs on 9 August 2008. The 12-1/4" surface hole was drilled to 220 metres and the 9-5/8" surface casing was run and cemented at 217.7 metres.
As at 0600 hrs on 12 August 2008, West Boggo Creek-1 was at 650 metres and drilling ahead in 7-7/8" hole.
West Boggo Creek-1 is a nearfield exploration well targeting the Showground Sandstone which has the potential to contain 0.43 million barrels of recoverable oil resource in the P10 case.
It is expected, on a trouble free basis, to take approximately 12 days to drill and evaluate the well, which has a planned total depth of 2016 metres.
Silver Springs-6 Walloon CSG (PL 16 - MOS 100%)
Installation of the surface pumping facility is in progress. The rental hydraulic pumping unit is being replaced by the contractor. The well is expected to be on production testing within the next two weeks.
Contact
Mosaic Oil:
Lan Nguyen
Managing Director
Tel: +61-2-9247-9324
Media:
Bill Kemmery
Fortbridge
Tel: +61-2-9331-0655
Mob: +61-400-122-449
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