Quadrant Energy Says Roc-2 Well in Permit WA-437-P Confirms Hydrocarbons

Carnarvon Petroleum Ltd. reported Friday that Quadrant Energy, operator of the WA-437-P exploration permit in the North West Shelf of Australia, has confirmed a hydrocarbon bearing reservoir when drilling the Roc-2 well.

"The Roc-2 well has confirmed hydrocarbon bearing reservoir, in good quality rock, within the Caley section. The results were confirmed during Logging While Drilling (LWD) which provides preliminary information during drilling operations," Carnarvon said in the press release.

Meantime, the operator intends to continue drilling the 8.5 inch hole in Roc-2 well to planned total depth of around 17,224 feet (5,250 meters). Following the completion of drilling, anticipated to take around 2 weeks, an extensive logging and testing campaign will commence.

"I am extremely pleased with the results of this well so far. We have successfully acquired core over the reservoir section and I'm happy to be in a position to confirm today that we've encountered hydrocarbons in good quality reservoir sands. The next stage of the program is to obtain and assess the logging and testing results which will take place after the current well deepening activity. Clearly there is some ways yet to go on this well but progress to date is very encouraging," Carnarvon’s Managing Director and CEO, Adrian Cook said.

Quadrant has an 80 percent interest in permit WA-437-P, with the remainder 20 percent held by Carnarvon.



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