Perth, Sep 17, 2008 AEST (ABN Newswire) - Empire Oil & Gas (ASX:EGO)(PINK:EOLGF) and its wholly owned subsidiary, Rough Range Oil Pty Ltd, is pleased to provide a progress report of drilling Lake MacLeod-1 located in the Onshore Carnarvon Basin, Western Australia.
DCA Rig 7 is on location and is rigging up to commence drilling and installing the surface conductor pipe prior to drilling and the 311 mm (12 1/4") hole to 150m before running and cementing 244 mm (9 5/8") casing. These drilling operations are programmed to commence on rigging up to the satisfaction of the Empire Oil & Gas N.L. safety conditions. Drilling the 216 mm (8 1/2") hole to the reservoir objectives will commence upon the installation and testing of blow out prevention equipment. The 22-man drilling accommodation camp is on site.
The attached photograph shows the completed Lake MacLeod-1 wellsite location prior to DCA Rig 7 being mobilised. Empire looks forward to advising when these drilling operations commence.
The Lake MacLeod-1 well is a 1,000 metre well to evaluate a large anticlinal feature. Estimated potential recoverable oil reserves for the larger Lake MacLeod structure within both EP 439 and EP 461, if filled to its maximum spill point, are in the order of 150 million barrels. Potential recoverable oil reserves within the Lake MacLeod structure within EP 461 are more conservatively calculated using a 5,000 hectare closure at the top Nannyarra Sandstone to be in the order of 30 million barrels.
The participants in the EP 439 and EP 461 Joint Venture are:
Rough Range Oil Pty Ltd (Operator) 30.35%Longreach Oil Limited 9.352%Indigo Oil Pty Ltd 4.676%Falcore Pty Ltd 2.596%Vigilant Oil Pty Ltd 0.52%Jurassica Oil & Gas Plc 35%Black Fire Energy Limited 7.5%DVM International Limited 10%
Contact
Mr Craig Marshall
Managing Director
Phone: +61-8-6389-2687
Facsimile: +61-8-9386-6812
E-mail: cmarshall@empireoil.com.au
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