COOPER/EROMANGA
BASIN
PEL 111 Update:
Snatcher Oil Field Commences 1st
Oil Production on PEL 111 under ACOR’s ORRI
The operator of PEL 111 has advised the start up of
oil production from the Snatcher-1 and Snatcher-2 oil
discoveries with their connection to the temporary
Snatcher oil production facility. Over the next few
days, subject to weather, the wells will move from
free flow to increased production with the
commissioning of the artificial lift beam pumps that
have been installed.
A further announcement on the stabilized flow rates
on artificial lift from the Snatcher-1 and Snatcher-2
wells will be made when the production data is at
hand.
The Snatcher Oil Field is situated on the Western
Margin Oil Trend, with the Snatcher-1 and Snatcher-2
wells producing oil from a channel system present
within the Jurassic Birkhead Formation.
The Snatcher-3 oil discovery will be placed on
production in the first quarter of 2010.
ACOR owns a 1/10th of 1% ORRI under PEL
111, which includes the Snatcher Oil Field, covering
approximately 292,819 gross acres.
MAP of PEL 111 Drilling Locations
PEL 115 Update: Fury-1 Well Strikes Oil &
to be completed on ACOR’s ORRI
In December 2009, the operator of PEL 115 advised
that following drilling to the total depth of 6,446
feet, wire line logs and side wall cores have
confirmed the presence of the good oil shows observed
in target sands of the Murta Formation.
The presence of an oil column over a 56 foot gross
interval from 4,294-4,350 feet is interpreted from the
wire line logs, MDT data and side wall cores. An
additional oil sand has been confirmed by wire line
logs and side wall core in the Permian Epsilon
Formation between 5,951 and 5,967 feet.
Based on the analysis of the wire line log data and
side wall cores and similarity of the Murta oil column
in Fury-1 to those seen in the producing Mirage Oil
Field, 5 kilometers to the south west, Fury-1 has been
completed for production with 7 inch production casing
run to 6,446 feet.
The Fury-1 well will be production tested as soon
as a workover rig is available. Following production
testing, the close proximity of the producing Mirage
oil field production facilities offers the opportunity
for a pipeline connection from the Fury-1 oil
discovery to the Mirage oil field.
ACOR is very pleased that the wire line logs and
sidewall cores have confirmed the presence of an oil
column in the target sands of the Murta formation in
Fury-1 and a new oil field discovery.
The oil sand seen in the Permian is significant as
this is the first Permian oil sand drilled in PEL 115.
The presence of oil in the Permian opens up a new
target zone in the immediate area of Fury-1 and PEL
115 on ACOR’s ORRI.
ACOR owns a 1/10th of 1% ORRI under PEL
115, which also includes the producing Mirage Oil
Field, covering approximately 273,297 gross acres.
PEL 115 Update:
Airacobia-1 Well Drilling Report- Has Permian
Oil & Gas Shows on ACOR’s ORRI
On January 4th, the operator of PEL 115
for the Airacobra-1 exploration well advises that
drilling operations recommenced on January 2, 2010 and
the current operation is drilling ahead in the Epsilon
Permian Formation at 6,702 feet towards the target
Patchawarra sands, oil and gas productive in the
adjacent major Permian oil and gas fields.
Good to fair gas and oil shows have been observed
in Permian Epsilon sands over the interval 6,594 to
6,614 feet. The full significance of these gas and oil
shows will be further evaluated by wire line logs to
be run after the well has drilled to total depth of
7,677 feet.
Airacobra-1 is being drilled as an exploration well
to test the oil bearing potential of the Jurassic and
Permian formations in the 3D seismically defined
Airacobra Prospect.
ACOR owns a 1/10th of 1% ORRI under PEL
115, which also includes the producing Mirage Oil
Field, covering approximately 273,297 gross acres.
ATP 560 Update:
Three (3) Well Drilling Program – Utopia 7 &
Utopia-8 Wells Both Strike Oil on ACOR’s ORRI - Rig
Moves to Drill 3rd Well
Utopia-9 Next
On Dec. 21st, 2009, the JV Partner of
ATP 560 announced that they have had a good start to
its three-well development drilling program on the
Utopia oil field in Queensland with the first well,
Utopia-7, to be completed as an oil producer.
The JV Partner said the well had encountered good
oil shows in the Murta zone and would be cased and
completed as a new producer.
The well will be fitted with a conventional beam
pump and tied into the Utopia oil treatment facility
with first oil expected by mid-January. The oil will
be sold by trucking to the Eromanga refinery.
The second well, is Utopia-8.
The three-well program is designed to further
develop the proved producing oil reserves in the Murta
zone.
ACOR owns a 25% of 1% ORRI under ATP-560, which
includes the Utopia Oil Field.
Another Utopia producer lands in ACOR’s bag
On Jan. 4th, the JV Partner announced
that it has made another new oil discovery at the
Utopia oil field on ACOR’s ORRI with the Utopia-8 well
to be completed as a producer. The well encountered
good oil shows over a 33 foot interval in the Murta
zone from 3,333-3,366 feet and will now be cased and
completed as a new producer.
Utopia-8 is the second of three wells Bounty has
planned to drill in the first phase of a development
program designed to further develop the proved
producing oil reserves in the Murta zone.
The first well, Utopia-7, was recently completed as
an oil producer.
“Utopia-8 is another good result for the joint
venture in its plan to develop the proved high-quality
oil reserves at the Utopia field, we again encountered
a wider than expected oil zone in U8 and look forward
to Utopia-9," the JV Partner said.
Oil from the Utopia field is sold and trucked to
the nearby Eromanga refinery.
ACOR owns a 25% of 1% ORRI under ATP-560, which
includes the Utopia Oil Field.
About The Utopia Oil Field:
The Utopia Oil Field is located in the prolific
Cooper/Eromanga Basin in Queensland Australia. The
Utopia Oil Field produces light, sweet oil from sands
in the early Cretaceous Murta member, trapped in a low
relief anticline. The Utopia Oil Field is the largest
known Murta field in the Queensland sector of the
Eromanga Basin and is severely underdeveloped.
A 2004 review indicated a relatively large pool,
with possible recoverable oil reserve estimates of
approximately 2.86 million barrels of oil (P50) on
ACOR’s ORRI.
ACOR' W.I. HOLDINGS
On PEL 108, 109 (now called PEL 444) & 112
See PEL 112
Report Below
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