Cheal Oil Field Development - PMP 38156, New Zealand
Posted: 22 December 2006
Austral Pacific Energy Ltd reported today that the Cheal B4 well reached a total depth of 2900 metres (9514 feet) on 19 December 2006.
Cheal B4 targeted Urenui, Mount Messenger and Moki sandstones in a separate fault terrace to the north-west of the currently defined limits of the Cheal Oil Field.
The target Mt Messenger sands were intersected over a gross interval from 1772 metres (5814 feet) to 1785 metres (5856 feet) and from 1904 metres (6247 feet) to 1944 metres (6378 feet). Wireline logs and drill gas indicate that these intervals are oil bearing.
Sands from the secondary target Urenui Formation were intersected over a gross interval from 1460 metres (4790 feet) to 1476 metres (4842 feet) and from 1620 metres (5315 feet) to 1646 metres (5400 feet). Wireline logs and drill gas indicate that these intervals are oil bearing.
Sands from within a deeper secondary target, the Moki Sandstone, were intersected below 2407 metres (7897 feet) and are interpreted to be water saturated.
The Cheal B4 well is currently being prepared for later side track operations to target better developed sands near the existing well bore.
Austral Pacific Energy Ltd. holds a 69.5 per cent interest in the Cheal oil field and is the operator. TAG Oil holds the remaining 30.5 per cent interest in the permit.
"Cheal B4 is another encouraging result for the Cheal Joint Venture," said Chief Executive Officer Rick Webber.
"The well confirms the existence of hydrocarbon charge outside the currently recognised limits of the field and as such increases our confidence in the resource potential of the north western extension of the Cheal Oil Field."
In other news Mr Webber reported that construction of the processing facilities at the Cheal A site continues to make good progress.
"The site foundations are now largely complete and installation of the three large oil storage tanks is complete," said Mr Webber.
"Fabrication of the first of two separator vessels has now been completed."
Posted by Richard Price, Editor, EnergyME.com
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