Sydney, Aug 12, 2008 (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.
About MOSAIC OIL NL
Mosaic Oil N.L. (ASX: MOS) is a successful junior Australian explorer and producer of oil and gas. The Company's principal producing assets are based in the highly prospective proven producing Surat and Bowen basins of southeast Queensland. Mosaic's focus on Queensland now involves accelerated evaluation of the Company's extensive exploration and production acreage, ongoing development of new commercial petroleum plays and discoveries similar to the basin-centred hydrocarbon plays in the Canadian Deep Basin of Alberta and American Rocky Mountain area of Wyoming, and greater use of the Company's own extensive production infrastructure.
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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