Sydney, Aug 19, 2008 (ABN Newswire) - Mosaic Oil's (ASX:MOS)(PINK:MSAOF) MB Century Rig-7 is being moved to the Taylor-19 well site. A mud pump change out will be carried out by the drilling contractor prior to rigging up on the Taylor-19 well. Taylor-19 is expected to be spudded within the week.
Taylor-19 (PL 16 - MOS 100%)
Taylor-19 is a gas/condensate development well targeting the Showground Sandstone in the gas cap area located approximately 1 km north-northeast and updip from the Taylor-16 gas and oil producing well. The Taylor-19 compartment is estimated to contain up to 2.8 BCF of gas and 0.28 million barrels of oil and condensate.
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 2054 metres.
Silver Springs-6 Walloon CSG (PL 16 - MOS 100%)
Installation of the surface pumping facility is nearly complete. The rental hydraulic pumping unit will be installed by the contractor on Wednesday 20 August. The well is expected to be on production testing within a week.
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
News 
