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Brisbane, Dec 1, 2010 (ABN Newswire) - Bow Energy Limited (
ASX:BOW) (PINK:BOWYF) are pleased to announce that the second and final well in its 2010 onshore Australia drilling program, the appraisal well Cuisinier 2, located on the Barta sub-block (the "Barta Block") within Authority to Prospect ATP 752P has been cased to 2,037 meters total depth by the operator (Santos (ASX:STO) (PINK:STOSY)) as a potential Murta zone oil well.
The Cuisinier 2 appraisal well ("Cuisinier 2") targeted the Murta sandstone approximately 450 metres northeast of the Cuisinier 1 oil discovery. The Cuisinier 2 well encountered an upper Murta zone within the same oil column as Cuisinier 1. Logs indicate that a gross channel thickness of 7.5 metres was penetrated in the upper Murta with up to 7 metres of potential net pay. The potential productivity rates will be evaluated after perforation and testing.
Moderate oil shows were also seen in two additional deeper Murta sands which from logs, may indicate additional potential for approximately 7 metres of possible incremental net oil pay that if validated from testing would be below the originally postulated oil water contact at Cuisinier 1.
Santos, as Operator, is considering the evaluation programme which may result in the Birkhead zone and the Murta zones being tested during subsequent well completion operations during the first quarter 2011.
Cuisinier-1 production well continues to exceed initial production estimates and continues to produce at greater than 400 barrels of oil gross per day.
ASX:BOW) (PINK:BOWYF) are pleased to announce that the second and final well in its 2010 onshore Australia drilling program, the appraisal well Cuisinier 2, located on the Barta sub-block (the "Barta Block") within Authority to Prospect ATP 752P has been cased to 2,037 meters total depth by the operator (Santos (ASX:STO) (PINK:STOSY)) as a potential Murta zone oil well.The Cuisinier 2 appraisal well ("Cuisinier 2") targeted the Murta sandstone approximately 450 metres northeast of the Cuisinier 1 oil discovery. The Cuisinier 2 well encountered an upper Murta zone within the same oil column as Cuisinier 1. Logs indicate that a gross channel thickness of 7.5 metres was penetrated in the upper Murta with up to 7 metres of potential net pay. The potential productivity rates will be evaluated after perforation and testing.
Moderate oil shows were also seen in two additional deeper Murta sands which from logs, may indicate additional potential for approximately 7 metres of possible incremental net oil pay that if validated from testing would be below the originally postulated oil water contact at Cuisinier 1.
Santos, as Operator, is considering the evaluation programme which may result in the Birkhead zone and the Murta zones being tested during subsequent well completion operations during the first quarter 2011.
Cuisinier-1 production well continues to exceed initial production estimates and continues to produce at greater than 400 barrels of oil gross per day.
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About Bow Energy Limited
Bow Energy Limited (ASX:BOW) (PINK:BOWYF) is an S&P ASX 200 All Australian Index and S&P ASX 300 Index Company. The company's primary business is the discovery and commercial production of Coal Seam Gas (CSG) and conventional oil fields, with projects in several of Australia's producing basins.
The company is focused on expanding its CSG reserves, with eight CSG projects located within the highly prospective Bowen and Surat Basins of Queensland, and developing production for domestic and export natural gas customers.
The company has GIP potential across its CSG projects of over 13.8 Tcf and to date has certified net gas reserves of 2,360 petajoules (PJ) of 3P and 114 PJ of 2P. A record drilling program is underway for 2010, targeting year-end reserves of 4,128 PJ of 3P and 455 PJ of 2P.
Bow is currently developing the Blackwater Power Project, Bow's 100% owned 30 megawatt power station near Blackwater, central Queensland, which is scheduled for commissioning by the end of the first quarter 2011.
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