Garfish-1 exploration well penetrates primary target

The Garfish-1 exploration well in production license VIC/L29, in the Gippsland basin offshore Victoria, has reached 2,410 m (7,907 ft) true vertical depth subsea, according to Nexus Energy Ltd.

Offshore staff

MELBOURNE, Australia -- The Garfish-1 exploration well in production license VIC/L29, in the Gippsland basin offshore Victoria, has reached 2,410 m (7,907 ft) true vertical depth subsea, according to Nexus Energy Ltd.

The well has penetrated the primary exploration target above the Longtom field and initial indications from logging while drilling are that the predicted sands are water bearing, the company says. This interpretation will be confirmed by subsequent wireline logs.

Current operations on the well are coring over a deeper interval that is interpreted to be the western extension of the main reservoir section of the Longtom field. Wireline log data will be acquired once the well has reached total depth to ascertain if gas bearing sands are present at this deeper level and if these sands are in pressure communication with the gas sands encountered in previous Longtom wells.

The primary target of the Garfish-1 well was to test a seismic anomaly which directly overlies the Longtom gas field. Similar seismic anomalies at Longtom had been shown to indicate the presence of gas bearing reservoir sands. The well was also deepened to the main reservoir sands of the Longtom field to appraise the western part of the VIC/L29 license area.

06/10/2008

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