Sydney, Aug 26, 2008 AEST (ABN Newswire) - Mosaic Oil's (ASX:MOS)(PINK:MSAOF) Taylor-19 spudded at 2000 hrs on 24 August 2008. 12-1/4" surface hole was drilled to 221 metres and the 9-5/8" surface casing string was run and cemented to 218.7 metres. Current operation as at 0600 hrs on 26 August 2008 was rigging up the Blow Out Preventer stack.
Taylor-19 (PL 16 - MOS 100%)
Taylor-19 is a gas/condensate development well targeting the Showground Sandstone in the gas cap area located approximately 1 km north-northeast and updip from the Taylor-16 gas and oil producing well. The Taylor-19 compartment is estimated to contain up to 2.8 BCF of gas and 0.28 million barrels of oil and condensate.
It is expected, on a trouble free basis, to take further 10 days to drill and evaluate the well, which has a planned total depth of 2054 metres.
Silver Springs-6 Walloon CSG (PL 16 - MOS 100%)
The well has been put on pump for production testing on 21 August 2008. An update will be provided in the September 2008 Quarterly Report.
Contact
Mosaic Oil:
Lan Nguyen
Managing Director
Tel: +61-2-9247-9324
Media:
Bill Kemmery
Fortbridge
Tel: +61-2-9331-0655
Mob: +61-400-122-449
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