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Seven (7) out of Eight (8)
Wells adjoining ACOR's PEL 112 Strike Oil - 88% Success Ratio
- New Field Discovery Callawonga-1 IP 2400 BOPD- Well Still
Drilling - Going Deeper. Update on $35,000,000 Offshore Well
Drilling on ACOR'S ORRI
CISCO, Texas--(BUSINESS
WIRE)--July 26, 2006--Australian-Canadian Oil Royalties Ltd.
(herein called ACOR) (OTCBB:AUCAF
-
News) is pleased to report that the operator of the
adjoining block to the north of ACOR's PEL 112 announces a new
field oil discovery at Callawonga-1. An open-hole production
test over the uppermost Namur Sandstone interval 1,340 - 1,346
meters flowed oil to surface in 15 minutes. The final rate was
2,400 barrels of oil per day, flowing at a stabilized wellhead
pressure of 115psi through a 1/2 inch surface choke. No water
was observed during the test and a full string of oil was
recovered. The operator will now drill ahead in the
Callawonga-1 to further evaluate the Namur Sandstone and
deeper objectives.
As stated in previous ACOR press releases, ACOR has raised
$4,500,000 to drill three (3) wells on PELs 112 & 108 in South
Australia. PEL 112 & 108 covers approximately 1,325,715 gross
acres, and has never been drilled (no dry holes). ACOR and
partners have just completed a new seismic survey on PELs 112
and 108 at a cost of approximately $1,100,000. The new seismic
survey has discovered two large seismograph highs as well as
24 smaller ones. The 2 large seismograph highs are called C-23
& C-26, which cover a combined area of approx. 5,534 acres
with excellent closure.
ACOR and partners have invested approximately 5 years and
several million dollars in PELs 112, 108, & 109. ACOR
management is very excited to have negotiated a 3-well carried
position over the 3 areas, which substantially reduces the
Company's risk. The Carried Working Interest has potential to
bring substantial revenue into the Company, should any or all
of the three wells drilled prove to be commercial. ACOR's
carried working interest in the 1st three wells will exclude
ACOR from all exploration and completion costs.
All the wells mentioned below adjoin ACOR's working interest
PEL 112 to the north and to the east.
Silver Sands-1 well came in with an initial potential of 1062
BOPD
Christies-1 well came in with an initial potential of 500 BOPD
Christies-2 well came in with an initial potential of 1960
BOPD
Christies-3 well came in with an initial potential of 2400
BOPD
Christies-4 well came in with an initial potential of 653 BOPD
Christies-5 well came in with an initial potential of 403 BOPD
Sellicks-1 well came in with an initial potential of 1780 BOPD
Sellicks-2 well came in with an initial potential of 2700 BOPD
Sellicks-3 well came in with an initial potential of 1365 BOPD
Worrior-1 well came in with an initial potential of 2800 BOPD
Worrior-2 well came in with an initial potential of 2000 BOPD
Worrior-3 well came in with an initial potential of 276 BOPD
Worrior-4 well came in with an initial potential of 1660 BOPD
The current production on the adjoining area to the north of
ACOR's PEL 112 is averaging a reported $33,000,000 a year.
The current production on the adjoining area to the east of
ACOR's PEL 112 is averaging a reported $75,000,000 a year.
The nearest oil field to ACOR's PEL 112 on the northeast is
the Tantana Oil Field, which has averaged 937,500 bbls of oil
per well or $68,000,000 per well at current oil prices and is
located approx. 13 miles NE of ACOR's PEL 112. The Seismic
line 84-XAB shows a possible look-alike structure on ACOR's
PEL 112 similar to the Tanatana Oil Field.
South Australia's Cooper/Eromanga Basin is exploding with new
drilling activity, rewarding investors with some of the most
profitable production in the area. ACOR's PEL 112 Is In The
Middle Of It!
Why are we talking about the
Wells that adjoin ACOR's PEL 112?
Take the smallest of the recent discoveries (276 BOPD) and
multiply (x) it by $70.00 per barrel, current market price of
crude oil, times (x) 30 days, times (x) 12 months and apply it
to times (x) ACOR's PEL 112 working interest and see the
results for yourself. Now do the same with the largest
discovery that adjoins ACOR's PEL 112.
Smallest Discovery so far, Worrior-3 IP 276 BOPD
Largest Discovery so far, Warrior-1 IP2,800 BOPD
Now you can see why ACOR management is so excited about
raising the $4,500,000 to drill on PEL 112. In our opinion,
any one of the recent discoveries could be a possible
"Company-Maker" if discovered on PEL 112.
ACOR owns 16.6665% Carried WI through the first 3 wells under
PELs 108, 109, & 112. This includes the 2.834% carried working
interest held by the 3 stockholders who paid ACOR's half of
the costs for new seismic.
See New Seismic Data
Below on PEL 112
PEL 112
Regional & Prospect Interpretation
NEW
2005 Seismic Survey On PEL 108
The End Of
The PEL 112 Report
ATP
582
ATP 582 is
located in Queensland Australia in the prolific Cooper/Eromanga
Basin.
The permit
area covers approximately 6,716,000 gross acres.
TRIP
TO AUSTRALIA IN MAY WAS SUCCESSFUL -COMPLETES JOINT VENTURE
WITH TWO (2) OIL COMPANIES RAISES APPROX. $6,500,000 ON
APPROX. 8,414,348 GROSS ACRES
Press Release - AUSTRALIAN-CANADIAN OIL
ROYALTIES LTD. (ACOR) Quotes:(
AUCAF )
Tuesday,
September 26, 2006 11:18:00 AM EST
CISCO, Texas--(BUSINESS
WIRE)--Australian-Canadian Oil Royalties Ltd. (herein called
ACOR) (OTCBB: AUCAF - News) is pleased to announce that while
ACOR management was in Australia attending the APPEA
Convention May 7th at the new Convention & Exhibition Center
in Gold Coast, Queensland. ACOR met with several investors
indicating interest in exploring for oil & gas on ACOR's
assets. The final result of those meetings has lead to the
agreement of two separate transactions with two separate oil
companies agreeing to explore for oil & gas on approximately
8,414,348 gross acres and spend approximately $6,500,000 in
onshore exploration on ACOR's vast assets located in
South Australia and
Queensland, in the prolific Cooper/Eromanga Basin.
ATP
582 Agreement:
A verbal
agreement was made with the investors interested in exploring
ATP 582 while in
Australia last May; this was
put into contract form and signed today. The new Joint Venture
partner will operate the concession. The group plans to shoot
new a seismic grid survey over the leads identified by ACOR
management from old seismic data to confirm good drillable
targets with plans to drill a well. ATP-582 is located in
Queensland Australia in the prolific Cooper/Eromanga Basin.
The permit area covers approximately 6,716,000 gross acres.
The
Southern zone of ATP 582 is currently the best area of all the
areas of the concession for oil & gas exploration. Besides
being up dip of the approximately $1 Billion dollar annual
production from the Santos-Exxon producing block, it is along
strike with many new discovery wells that have sustained daily
production of 1,000 - 3,000 barrels of oil per day. ACOR
management has currently identified two prospects on ATP-582
from the 850 miles old seismic data, owned by ACOR.
The
Samphire prospect covers approximately 3,800 acres and
exhibits approximately 110 feet of closure. It is possible
that a good potential exists for a 10-15 million barrel field,
with a possible potential of approximately 40 million barrels.
The
Samphire West, which covers around 4,700 acres. If the
Samphire prospect proves to be productive, a number of
additional field discoveries may result from leads in the
Southern part of ATP-582. Both prospects are a series of
sandstone (clastic) reservoirs of pinch-outs and structural
traps that have formed on the flank of the local high.
ACOR will
be carried for 50% WI in the 1st well drilled under ATP-582.
PEL
100
ACOR
ORRI Section
ACOR's PEL
115 ORRI W/ 480 BOPD
PEL 115
ORRI
The Mirage Oil Field
 08-29-07:
Testing the Outer Boundaries of the Mirage Oil Field with
Lancer-1 well
Lancer-1 is located in PEL 115
and is defined by the Mirage 3D with multiple reservoir
objectives. The prospect is within the Mirage development zone
and as such within close proximity to the Mirage production
facilities approx. 3 miles to the south.
The Lancer prospect is a four
way dip closed anticline located approx. 3 miles north of the
Mirage production facilities and 2.4 miles southeast of the
Narcoonowie Oil Field operated by Santos. The structure is
defined by the Mirage 3D and has potential to contain pay in
multiple reservoir horizons. Oil shows were recorded in
Plotosus-1 drilled by Santos in 1997, 1.6 miles to the east.
The Lancer Prospect has the potential to contain up to 5
million barrels of oil, if oil is present.
Ventura Oil Field
The Hornet Gas Field
Additional Drilling Prospects on PEL 115
PEL 111 ORRI
ATP 299 ORRI
ATP-299 Strikes Oil on
ACOR's ORRI - Five (5) More Oil Wells Completed on The
Tintaburra Oil Field with Estimated Oil Reserves of
approximately 84 Million Barrels of Oil or approximately
$4.6 Billion Dollars at Current Market Prices
Wednesday January 31, 2006 9:11 am ET
CISCO, Texas--(BUSINESS WIRE)--Australian-Canadian Oil
Royalties Ltd. (herein called ACOR) (OTCBB: AUCAF
- News)
reports that the JV partner of ATP-299 has announced
that the Endeavour 40 oil well, the Endeavour 26 oil
well, the Endeavour 34 oil well, the Endeavour 39 oil
well and the Endeavour 17 oil well have all been cased
and suspended as future oil production wells on ACOR's
ORRI on ATP 299 located in the prolific Cooper/Eromanga
Basin in Queensland Australia.
The Rig PDI-735 spudded the Endeavour 40 well on
December 31st 2006. Oil shows were encountered in the
Westbourne and Birkhead Formations. Wireline logs
indicate a total of approximately 13 feet of net oil
pay. The well has been cased and suspended as a future
oil production well.
The Rig PDI-724 spudded the Endeavour 26 well on
January 3rd. Good oil shows were encountered while
drilling in the Birkhead Formation and evaluation of the
wireline logs indicated approximately 26 feet of net oil
pay. The well has been cased and suspended as a future
oil production well.
The Rig PDI-735 spudded the Endeavour 34 on January
6th. Oil shows were encountered in the Birkhead
Formation, and wireline logs indicate approximately 20
feet of net oil pay. The well has been cased and
suspended as a future oil production well.
The Rig PDI-724 spudded the Endeavour 39 oil well on
Jan 12th. Oil shows were encountered in the Birkhead
Formation. Two 29 foot cores were cut out and recovered
over the Birkhead reservoir interval. The well has been
cased and suspended as a future oil production well. The
cores will be used in reservoir studies.
The Rig PDI-735 spudded Endeavour 17 on January 16th.
Good oil shows were encountered in the Birkhead
Formation and wireline logs indicated approximately 16
feet of net oil pay. The well has been cased and
suspended as a future oil production well.
Heavy rains in the Cooper/Eromanga Basin have
curtailed current operations this week.
Results
of the 2006 Drilling Program on ATP 299 on ACOR's ORRI:
The 2006 drilling results are considered to be a
great success as the drilling program averaged an
overall 75% success ratio. See below.
Total Number Number Completed Number Plugged
of wells drilled for Production and Abandoned
(Since Feb 2006) (Oil Production/Water Injection)
77 58 19
The
proposed 2007 Drilling Program on ATP-299 on ACOR's ORRI:
The JV partner is so pleased with the 2006 drilling
results that they have announced an additional 81 wells
are planned to be drilled in 2007 on ATP-299 on ACOR's
ORRI, although the program may vary depending on
results.
The breakdown of the 81 wells planned to be drilled
on ATP-299 are as follows:
- Endeavour Oil Field - 22 Wells
- Mulberry Oil Field - 20 Wells
- Talgeberry Oil Field - 9 Wells
- Gimboola Oil Field - 2 Wells
- Chancett Oil Field - 1 Well
- Tintaburra Oil Field - 27 wells
About The Tintaburra Oil Field:
The Tintaburra drilling program on ACOR's ORRI is the
largest continuous oil development and exploration
drilling program ever undertaken in Australia with two
(2) modern rigs drilling and casing wells at around ten
(10) days per well.
The wells to be drilled are designed to achieve
additional oil production and to test the extent of the
oil pool in the Birkhead 11-77 sand discovered in the
Mulberry 1 well.
The Mulberry 1 well, located on ATP-299 was drilled
in 2004, and the well came in with an initial potential
of approximately 600 barrels of oil per day. ATP-299 is
located in the prolific Cooper/Eromanga Basin.
The Mulberry, Endeavour, Talgeberry, Gimboola &
Chancett Oil Fields are all part of the Tintaburra Oil
Field on ACOR's ORRI under ATP-299 and is estimated to
contain around 84 million barrels of proved plus
probable oil in place or approximately $4,600,000,000,
at current market prices.
ACOR owns .0575 of 1% ORRI under ATP-299.
$50 Million
Dollar -5 1 Wells
$50 Million
Dolla r -51 Wells
ATP 267 ORRI
The ATP 267 Eleven (11)
Well Drilling Program is 100% Successful - 1st Four (4) Wells Strike
Oil on ACOR's ORRI -
Rig Moves to Drill Four
(4) Wells on Muthero Oil Field Inspired By Muthero-3 Oil
Discovery with approx. IP 1030 BOPD
Thursday February 8, 2007 9:49 am ET
CISCO, Texas--(BUSINESS WIRE)--Australian-Canadian Oil
Royalties Ltd. (herein called ACOR) (OTCBB: AUCAF
- News)
is pleased to announce that the JV partner of ATP 267
advises that the Thungo 13 appraisal well in southwest
Queensland has been cased and suspended as a future Murta
oil producer. The Thungo 13 well on ACOR's ORRI spudded on
January 21st and was drilled to a Total Depth of 3733 feet.
Oil shows were recorded in the Murta Member and wireline
logs indicated 26 feet of net pay.
The rig was released on February 6th and is being moved
to the Muthero field where four wells are planned and is
designed to appraise the Birkhead oil pool discovered in the
Muthero 3 well in December 2005 on the Muthero oil field.
Muthero 3 was drilled to a total depth of 4692 feet. Oil
shows were encountered in the Birkhead Formation and Murta
Member during drilling. DST-1 flowed oil on final flow at
1030 BOPD through a 1/2" choke at 25 psi.
Muthero 3 was cased and suspended as a future Birkhead
oil producer. The Muthero 3 well commenced production at
around 525 BOPD in February 2006 on ACOR's ORRI.
About the Eleven (11) Well Drilling Program on ACOR's
ORRI:
The eleven (11) well drilling program began on December
31st 2006 with the spudding of the Dilkera North 1 well. The
Thungo 9 well was the 2nd well, it spudded on January 9th
2007. The 3rd well was the Thungo 10 well, it spudded on
January 15, 2007. The 4th well was the Thungo 13 well, it
spudded on January 21st, 2007. All four (4) wells were cased
and suspended as future Murta oil producers.
The wells are drilled in 6 to 10 days and connection of
successful wells is targeted in 40 to 60 days. The
successful wells will be completed and connected to existing
oil production facilities which will be upgraded to handle
the anticipated increased production volumes on ACOR's ORRI.
About ATP 267:
ATP 267, including Petroleum License (PL) 33, 50 & 51
consists of approximately 220,800 gross acres and is located
in Queensland Australia in the prolific Cooper/Eromanga
Basin. The western border of ATP 267 is located
approximately 5 miles from the Jackson Oil Field. The
Jackson Oil Field is Australia's 2nd largest onshore oil
field and has reserves in excess of 40,000,000 barrels of
good quality crude oil or approximately $2.2 Billion Dollars
at current crude market prices.
Three wells were drilled on ATP 267 during the 2005
drilling program; Muthero 3, Winna 4 and Currambar 1. All
three wells were successful on ACOR's ORRI.
ACOR management is excited about the discoveries made in
2005 on ATP 267 and is very excited about the 100%
successful beginning of this eleven (11) well drilling
program and the potential revenue that could be generated
for the company.
ACOR owns 17.15% of 1% ORRI under ATP 267 which include
Petroleum License 33, 50, & 51.
ACOR's ORRI Under ATP-543
Zeta-1 Well Planned for 2006
Consist of Approx. 956,800 Gross Acres Located in the prolific Cooper/Eromanga Basin
ACOR's ORRI Under ATP- 560
The Utopia Oil Field is
situated in ATP 560P in the Eromanga Basin in south west
Queensland, approximately 150 km north east of the Jackson
Oilfield and 50 km south of the Kenmore Oilfield.
The Utopia field is a broad
low-relief structure, with a maximum relief of
approximately 10 meters. The field produces from the Early
Cretaceous Murta Formation and is the largest known Murta
pool in the Queensland Eromanga Basin. The oil pool is at
an approximate depth of 1020 m. The most recent technical
review of Utopia undertaken in June 2004 determined the
field may contain up to 2.86 million barrels of
recoverable oil (P50 estimate).
The field is presently
producing approximately 30- 40 bopd from three wells and
to date has produced approximately 50,000 bo. In September
2005, the Joint Venture commenced a two well infill
program in the field. At the first well, Utopia-5,
situated 540 m north-northeast of Utopia-1, the Murta “M2”
reservoir section was approximately 10 m low to prognosis
which meant that the reservoir sands were water-wet as
they were intersected just below the field’soil-water
contact. The well was subsequently plugged
and abandoned.
The second well, Utopia-6,
was located approximately
550 m east of Utopia-2. The well commenced drilling
on 9 September and intersected approximately 6 metres of
oilpay in the Murta M2. Based on Drill Stem Test (DST)
results, the formation may be capable of flowing up to 54
bopd from this well. Utopia-6 is to be completed as an oil
producer.
Following this program, the
Joint Venture is contemplating a 3D seismic survey to
provide definitive mapping of the field. This survey is
tentatively scheduled for late 2005/ early 2006. Based on
the results of the seismic program, additional development
drilling is planned for early 2006.
ACOR's ORRI
Under ATP-616 ( Soon to be called ATP 820P)
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