"Victoria Petroleum is pleased to be drilling the third development well, Mirage-4, on the Mirage Oil Field after the initial discovery well Mirage-1," said Victoria's managing director, John Kopcheff. "If our development program on the Mirage Oil Field is successful, as we hope it will be, we should see an increase in production from the current 400 barrels of oil per day to a target of up to 800 barrels of oil per day by mid-2006. Any increase in oil production from the Mirage Oil Field would be timely in this current time of high oil price."
Victoria has a 40-percent interest in the drilling of Mirage-4 and PEL 115. Other participants include Impress Ventures (40 percent) and Roma Petroleum (20 percent).
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