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Melbourne, Oct 28, 2010 (ABN Newswire) - Oil Basins Limited (
ASX:OBL) wish to make the following ASX announcement relating to the drilling operations at Backreef-1, Backreef Area, Canning Basin, onshore Western Australia (WA):
1. Late afternoon on WST 27 October 2010, the Backreef-1 well reached 1800mRT revised total depth, as approved by the Western Australian Department of Mines and Petroleum.
2. As at 3am WST 28 October 2010 electric logging operations commenced - with particular interest in examining the Basal Grant Sandstone and the Lower Laurel Member potential oil zones.
3. Electric logging operations will continue during 28 October and into 29 October 2010. When complete and after the results have been fully analysed a further report will be released as soon as possible to the ASX.
By funding 100% of the drilling and completion costs of Backreef-1, OBL is earning up to 90% of Backreef-1 and the Backreef Area.
For the complete Oil Basins announcement including figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/64051-ASX-OBL-344623.pdf
ASX:OBL) wish to make the following ASX announcement relating to the drilling operations at Backreef-1, Backreef Area, Canning Basin, onshore Western Australia (WA):1. Late afternoon on WST 27 October 2010, the Backreef-1 well reached 1800mRT revised total depth, as approved by the Western Australian Department of Mines and Petroleum.
2. As at 3am WST 28 October 2010 electric logging operations commenced - with particular interest in examining the Basal Grant Sandstone and the Lower Laurel Member potential oil zones.
3. Electric logging operations will continue during 28 October and into 29 October 2010. When complete and after the results have been fully analysed a further report will be released as soon as possible to the ASX.
By funding 100% of the drilling and completion costs of Backreef-1, OBL is earning up to 90% of Backreef-1 and the Backreef Area.
For the complete Oil Basins announcement including figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/64051-ASX-OBL-344623.pdf
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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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