Sun Resources NL
Sun Resources NL
Perth, Mar 17, 2009 AEST (ABN Newswire) - Sun Resources NL (ASX:SUR)(PINK:SNRDF) has been advised by Mueller Exploration Inc ("MEI"), the operator of the AHGU #1 well at the Meek Prospect, onshore Southern Texas, that drilling operations have concluded at Meek after running and cementing production casing from surface to 3,768m. The drilling rig was released on Friday 13 March.

MEI advises that production equipment including flow lines will be installed ahead of testing the interval 3,606-3,611m, the most prospective zone within the Middle Meek Sands of the Middle Wilcox Formation.

Installation of production equipment is likely to take 2-3 weeks and a further announcement will be made once installation is nearing completion.

Following installation of production equipment, an extended test program will be conducted over the interval 3,606-3,611m and any gas from a successful test will see the well completed as a producing discovery, with gas to be sold immediately through local production infrastructure.

Commenting on the success to date at the Meek Prospect, Mr Matt Battrick, Managing Director of Sun Resources stated; "The Middle Meek will be the first interval to be tested and, if successful, will be produced to sales immediately. A successful test has the potential to significantly add to the Company's reserves, production and importantly cash flow from the USA". "Other zones of interest including an additional 9m zone in the primary Upper Meek and two, 30m and 50m zones in the secondary Upper Wilcox will be assessed at some future time, with timing dependent on results of initial production test."

About Sun Resources NL

Sun Resources NL (ASX:SUR) is an Australian company, which is engaged in oil and gas exploration and investment. The Company operates in two segments: corporate administration and exploration. As of June 30, 2007, the Company participated in the drilling of seven oil and gas wells (six wells on South Texas Project Margarita prospects and one on a development project in the Lake Long Field area in Louisiana) and in a number of work overs and completions. Its exploration and production emphasis is on both oil and gas in conventional geological settings and within conventional reservoirs, principally located in Texas (Flour Bluff Gas Project, Project Margarita and Project Redback on the South Texas Gulf Coast), Louisiana (Lake Long Project) and California (Eagle Oil/Gas Development Project in the San Joaquin Basin). Its subsidiaries include Nieuport Pty Ltd, Sun Resources (New Caledonia) Pty Ltd, Sun Resources (NSW) Pty Ltd and Highland Petroleum Limited.

 


Contact

Matt Battrick
Managing Director
Sun Resources NL
Tel: +61-8-9388-6501



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