Sydney, Nov 16, 2005 AEST (ABN Newswire) - Anzon Australia Limited (ASX: AZA) is extremely pleased to announce the commencement of production from the Basker Field in offshore Gippsland Basin, Victoria.

The Basker-2 well was opened up at 10.07 am on Monday 14 th November 2005 and by 11.30 am was flowing oil to surface via a subsea completion and 1.9 km flowline to the Floating, Production, Storage and Offtake (FPSO) vessel, the Crystal Ocean. The initial flowrate from the upper interval (of a completion optionally capable of producing from either one or two intervals), was established at 9,500 barrels oil per day (bopd), with no water production and accompanied by approximately 10 million SCF per day of solution gas.

The inlet choke pressure on the FPSO was 1400 psig. While this development is in 155 m water depth, 75 km offshore in the Bass Strait, and involves the first FPSO in the Gippsland Basin, the start up of this project highlights an extraordinary achievement in just 12 months since the project initiation and only 11 months since the listing of Anzon Australia.

The participants in the BMG Joint Venture are: Anzon Australia Limited 62.5% (Operator) Beach Petroleum Ltd 37.5%.

Contact

Andrew Young
aza@anzon.com.au


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