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Melbourne, Sep 22, 2010 (ABN Newswire) - Oil Basins Limited (
ASX:OBL) wishes to make the following ASX Announcement, so as to keep the market fully informed.
Further to the comprehensive ASX Announcement dated 6 September, 2010, the Company, as Designated Operator, Backreef Area is pleased to advise that it has now executed the drilling contract with Hunt Energy & Minerals Co. Pty Ltd for their Rig 3. Preparations are advancing with contractors to mobilise the rig to the Backreef-1 well site from its present laid down location within the Amadeus Basin, Central Australia.
All necessary materials and services contracts are now in advanced stages of finalisation and execution.
It is anticipated that final preparations and mobilisation will take circa 1 to 2 weeks and the Backreef-1 well is anticipated to spud on or around the 6 October 2010. The present planned time to a minimum total depth of 1600m is estimated at 10 days from spud date.
More specific details will be announced closer to the date of spudding of the well and as preparations are finalised.
ASX:OBL) wishes to make the following ASX Announcement, so as to keep the market fully informed.Further to the comprehensive ASX Announcement dated 6 September, 2010, the Company, as Designated Operator, Backreef Area is pleased to advise that it has now executed the drilling contract with Hunt Energy & Minerals Co. Pty Ltd for their Rig 3. Preparations are advancing with contractors to mobilise the rig to the Backreef-1 well site from its present laid down location within the Amadeus Basin, Central Australia.
All necessary materials and services contracts are now in advanced stages of finalisation and execution.
It is anticipated that final preparations and mobilisation will take circa 1 to 2 weeks and the Backreef-1 well is anticipated to spud on or around the 6 October 2010. The present planned time to a minimum total depth of 1600m is estimated at 10 days from spud date.
More specific details will be announced closer to the date of spudding of the well and as preparations are finalised.
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About Oil Basins Limited
Oil Basins Limited (ASX:OBL) is engaged in the investment in selected exploration production and development opportunities in the upstream oil and gas sector. Oil Basins Limited was listed on the ASX on 23 August 2006 and is involved in exploration for oil and gas initially in the offshore Gippsland Basin waters of south-eastern Australia and the onshore Canning Basin of Western Australia. Since listing the Company has increased its leverage across all of its assets and has increased its exposure to attractive and prospective areas with the Canning Basin.
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