Oil Basins Limited (ASX:OBL) East Blina-1 Operations Report

Oil Basins Limited (

ASX:OBL) wishes to make the following ASX Announcement, so as to keep the market fully informed.

The Company, as designated Operator on behalf of the Backreef Area Joint Venture (OBL net 80% and Green Rock Energy Limited (

ASX:GRK) net 20% beneficial interests respectively) wishes to make the following Operations Report #1 at the East Blina-1 petroleum exploration well, within Production Licence L6, Canning Basin.

EAST BLINA-1 PETROLEUM EXPLORATION WELL

Interests: OBL 80%, GRK 20%

Operator: Oil Basins Limited

Spud Date: 8:00am, 17 October 2012

Depth: 48mRT @ 6:00am 18 October 2012

Weekly Progress: 45m

Formation Tops: Blina Shale 20mRT (circa 27m higher than prognosed)

Current Operation: Drilling ahead with 311 mm (12-1/4 inch) diameter hole to circa 350mRT and running & cementing 244 mm (9-5/8 inch) diameter surface casing.

Planned Total Depth: 1210mRT

Target: Intra Yellow Drum dolomite reservoir - (gross reservoir column 27m), with a prognosed Formation Top at 1162mRT.

Well Duration: Less than 11 days* from spud-date - drill and logging and wireline testing/sampling and PVT (as appropriate).

* Anticipated subject to change

View the complete Oil Basins announcement including Images at the link below:
http://media.abnnewswire.net/media/en/docs/ASX-OBL-380646.pdf' target=_blank>http://media.abnnewswire.net/media/en/docs/ASX-OBL-380646.pdf' target=_blank>http://media.abnnewswire.net/media/en/docs/ASX-OBL-380646.pdf

About Omni Bridgeway Limited

Omni Bridgeway is a publicly listed company on the ASX (Australian Stock Exchange) (ASX:OBL) since 2001 and has professionals around the world managing a global investment portfolio.