Longtom 3 horizontal well drilling ahead

Longtom 3 horizontal well drilling ahead

Thursday, August 24th 2006

Australian-Canadian Oil Royalties Ltd. has reported that the operator of VIC/P54 states that the Longtom-3 H (Horizontal) well was drilling ahead at a measured depth of approximately 13,386 feet.

Longtom 3 H (Horizontal) has, to date, intersected approximately 1771 feet of gas reservoir sands in the lower part of the Admiral Formation, making a total of 3051 feet including the 1280 feet mentioned in ACOR’s press release last week.

The well continues to track through laterally continuous gas sands that were predicted from the operator’s interpretation of the seismic amplitude data.

Following the successful drilling of the Longtom-3 ST1 side track section, the well was plugged back to a depth of 7825 feet and 10 3/4 inch casing was run and set across the upper gas sands.

To date, 3,839 feet of new hole has been drilled in the horizontal section of Longtom-3 H, since ACOR’s August 15th Press Release.

Planned future well operations are to continue to drill the horizontal well through the lower gas sands of the Admiral formation. The horizontal section of the well will continue to provide information in relation to the quality and lateral continuity of the lower Admiral reservoirs. After the drilling of the horizontal section it is intended that the well will be completed with both the upper and lower sands being tested to confirm the productivity of the key gas zones.

Upon completion of a successful production test the well will be suspended as a future producer. The Operator of VIC/P54 said, “The results of the well to date continue to be very encouraging and provide us with increased confidence in our geological interpretation. The intersection of such a large reservoir section in this early part of the horizontal well path is a particularly positive result in terms of potential well productivity. We look forward to a similarly strong correlation between potential pay zones identified on seismic and the actual gas sands which we expect to intersect from the rest of the well.”

It is anticipated that the operator will reach total depth in the well towards the end of the week with the next stage being the running of casing in the well prior to the planned production test.

The Longtom-3 horizontal well will provide further important appraisal data in relation to the lateral distribution and quality of gas reservoirs in the Longtom field. The well is located in VIC/P54 on ACOR’s ORRI, which consists of 155,676 gross acres located offshore Australia in the Gippsland Basin.

The well is being drilled utilizing the Ocean Patriot drilling rig.

Source: www.oilonline.com

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