East Blina-1 Operations Report No. 3
East Blina-1 Operations Report No. 3
Perth, Oct 25, 2012 AEST (ABN Newswire) - 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 code GRK) net 20% beneficial interests respectively), wishes to make the following weekly Operations Report #3 at the East Blina-1 petroleum exploration well, within Production Licence L6, Canning Basin.

Interests: OBL 80%, GRK 20%
Operator: Oil Basins Limited
Spud Date: 8:00am, 17 October 2012
Depth: 410mRT @ 6:00am 25 October 2012
Surface Casing Shoe: Set 244 mm (9-5/8 inch) diameter surface casing at 349mRT
Progress: 56m since last Report.

Installation and testing of BOP's took longer than planned and in addition on 23 October 2012 fishing operations were required within the cased hole. The fish was successfully retrieved in one pass using a magnet and following testing BOP's and the formation integrity test, drilling operations recommenced at 8:00pm 24 October 2012.

Formation Tops:
- Blina Shale 20mRT (27m higher than prognosed)
- Liveringa Formation 80mRT (24m higher than prognosed)
- Noonkanbah Formation 260mRT (25m higher than prognosed)
Current Operation: Drilling with a 216 mm (8-1/2 inch) diameter production hole to TD.

Planned TD: 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 (duration will be updated in next report after reaching TD)

In accordance with ASX Listing Rules, during the conduct of East Blina-1 drilling operations, OBL on behalf of the Backreef Area Joint Venture will advise the market weekly (on Thursdays), or as soon as possible after concluding an important well drilling operation and/or obtaining an important assessment or result.

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
T: +61-3-9692-7222
F: +61-3-9529-8057
WWW: www.oilbasins.com.au

Related Companies

Oil Basins Limited             
Green Rock Energy Limited      

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