Janus-1
Offshore Carnarvon Basin, Western Australia
Release No: 1Date: Tue 30 Dec, 1997
Victoria Petroleum N.L. has been advised by the Operator, Apache Energy,
that the Janus-1 well in offshore Carnarvon Basin permit WA-254-P,
commenced drilling on 28 December, 1997.
The Janus-1 well is testing the seismically defined Janus fault trap
structure which is interpreted to have the potential to contain a most
likely case recoverable reserve of 163 million barrels of oil, or 246
billion cubic feet of gas, if hydrocarbons are present, in the target
Legendre Formation sandstones at a target depth of 2380 - 2460 metres.
The Janus Prospect lies ontrend and 30 kilometres to the northeast of
the Reindeer 250 BCF gas discovery in WA-209-P operated by Apache
Energy.
Janus-1 is planned to be drilled to a total depth of 2495 metres in 14
days.
Pertinent information is summarised below:
Well Name:Janus-1Permit:WA-254-PLocation of Permit:Offshore Carnarvon
Basin, Western AustraliaLocation of Well:Lat: 19o 52' 41.9" S Long: 116o
33' 07.59" EProposed Depth2495 metresTime of Reporting:Time: 0600 hrs
WST Date: December 30, 1997
Well Depth:912m
Elevation: 65 metres
Hydrocarbon Indications:
Operations in last 24 Hours
Current Operations
Drilling ahead in 12 1/4" hole.
Operations in next 24 Hours
Drill 12 1/4" hole to 1030 metres, set and cement 9 5/8" casing.
Participating Companies:
Victoria Petroleum N.L. 4.0314%
Sun Resources N.L. 7.8571%
Carnarvon Petroleum N.L. 8.6914%
Apache Energy Ltd 39.1965%
Gulf (Aust) Resources Ltd 24.3750%
First Australian Resources N.L. 10.7413%
Pan Pacific Petroleum N.L. 2.9914%
Kestrel Energy, Inc. 2.1429%
TOTAL 100.0000%
Notes:
Victoria Petroleum N.L. has a 4.6% direct and indirect interest in the
Janus-1 well, through its direct 4.0314% interest and 26.5% shareholding
in U.S. NASDAQ public company Kestrel Energy, Inc.'s 2.1429% interest in
WA-254-P.
Daily drilling reports will be made to ensure a fully informed market in
keeping with the rules of continuous disclosure of the Company's
activities.
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Looks like this is gonna take a lot less time than I thought. Just two weeks to get down 2400 meters! Pretty impressive.
If they can just hit this well it would really give the stock a kick in the pants, what with the Westergaard hype about to unfold. |
