East Blina-1 Operations Report
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
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About Oil Basins Limited
Oil Basins Limited (ASX:OBL) is engaged in the investment in selected exploration production and development opportunities in the upstream oil and gas sector. Oil Basins Limited was listed on the ASX on 23 August 2006 and is involved in exploration for oil and gas initially in the offshore Gippsland Basin waters of south-eastern Australia and the onshore Canning Basin of Western Australia. Since listing the Company has increased its leverage across all of its assets and has increased its exposure to attractive and prospective areas with the Canning Basin.
Oil Basins Limited
Green Rock Energy Limited