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.
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.
ATP 299P - Queensland Cooper Basin
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.
