Crux-4 appraisal well progresses

The Crux-4 appraisal well in exploration permit AC/P23 offshore Browse basin in the Timor Sea, Western Australia, has intersected a further 16 m (52 ft) of net gas bearing sand bringing the total to 126 m (413 ft) net gas sand.

Offshore staff

MELBOURNE, Australia -- The Crux-4 appraisal well in exploration permit AC/P23 offshore Browse basin in the Timor Sea, Western Australia, has intersected a further 16 m (52 ft) of net gas bearing sand bringing the total to 126 m (413 ft) net gas sand.

The well has reached 3,918 m (12,854 ft) TVD subsea, says Nexus Energy Ltd.

Nexus holds an 85% interest and Osaka Gas Crux Pty Ltd holds 15%.

Current operations include the acquisition of wireline logs and the installation of a 7-in. (18-cm) liner. The well will then be suspended as a future production well.

The uppermost sand intersected in the well lies over 310 m (1,017 ft) above the field-wide gas water contact. Pressure measurements obtained from the well confirm that the gas intersected at this location is in pressure communication with the gas column in the core area of the field and is likely to have the same gas/water contact.

Crux-4 is the second of three wells set to be drilled in the greater Crux area. The third well, Libra-1, is scheduled for April in the adjoining AC/P41 exploration permit. Nexus holds a 50% interest in AC/P41 in conjunction with its partner, Shell Development (Australia) Pty Ltd.

02/19/2008

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