East Blina-1 Operations Report No. 4
East Blina-1 Operations Report No. 4
Perth, Oct 30, 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:GRK) net 20% beneficial interests respectively), wishes to make the following weekly Operations Report #4 at the East Blina-1 petroleum exploration well, within Production Licence L6, Canning Basin (refer below).

Interests: OBL 80%, GRK 20%
Operator: Oil Basins Limited
Spud Date: 8:00am, 17 October 2012
Planned TD: 1210mRT
Total Depth 1195mRT was reached @ 5:00pm WST 29 October 2012,
Surface Casing Shoe: Set 244 mm (9-5/8 inch) diameter surface casing at 349mRT; performed casing shoe FIT to EMW 1.95 SG (16.3 ppg).
Progress: 785m since last Report.
Current Operations: Presently, pulling drill sting out of hole prior to running Schlumberger quad-combo electric logs from surface casing to TD.
Hydrocarbon Shows: Laurel Fm - continuous hydrocarbon shows between 1035mRT to 1060mRT. No shows evident in the cuttings obtained from the Yellow Drum. Both the Laurel Fm and Yellow Drum dolomite are to be fully evaluated by wireline logs.

Formation Tops:
- Blina Shale 20mRT (27m higher than prognosed)
- Liveringa Fm 80mRT (24m higher than prognosed)
- Noonkanbah Fm 260mRT (25m higher than prognosed)
- Poole sst (2m lower than prognosed)
- Nura Nura Member (3m lower than prognosed0
- Grant A (11m higher than prognosed)
- Grant B Dora Shale (4 m higher than prognosed)
- Grant C (11m lower than prognosed)
- Grant D (3m lower than prognosed)
- Laurel Fm (25m higher than prognosed)
- Yellow Drum dolomite (25m higher than prognosed)
- Intra Yellow Drum dolomoite reservoir (35m higher than prognosed)

Note: All Formation Tops below are provisional until confirmed by wireline logs
Target: Intra Yellow Drum dolomite reservoir - (gross reservoir column 27m), with a pre-drill prognosed Formation Top at 1162mRT compared with an actual depth of 1135mRT.

Well Duration: Presently estimated circa 15 days from spud-date* - drill and logging and wireline testing/sampling and PVT (as appropriate).

* Including over 3 days to-date of non-productive time (NPT) with over 2 days of NPT with no rig charges to the Joint Venture.

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.
With the drilling of East Blina-1, the Backreef Play Agreement farmin commitments are now complete.

View pictures at the following link:
http://media.abnnewswire.net/media/en/docs/ASX-OBL-381412.pdf


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.

 


Contact

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



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Oil Basins Limited             
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