Entek Abandons Nudgee-1

Entek Energy Limited said that at 10:30 p.m. EST on June 15, 2007, Hunt Energy Rig #2 was released from Nudgee-1 and mobilization to the next well Marcoola-1 commenced. After electric logging of Nudgee-1, the joint venture decision was made to plug and abandon the well.

Entek said Monday that Marcoola-1 would likely spud the following day and would probably take approximately 10 days. Located approximately 35 kilometers southwest of Eromanga, the Marcoola prospect is a fault dependent four way dip closure. The primary objectives of the well are the Middle to Late Jurassic sands of the Hutton Sandstone and the thin basal sands of the Birkhead Formation. Secondary potential is recognized in the Westbourne Formation, the Wyandra Sandstone and the Murta Formation. Projected total depth of the well is 1,342 mRT.

Structural mapping at the Hutton level indicates that the Marcoola prospect has approximately 30 meters of structural relief and an aerial extent of approximately 1.5 square kilometers. Projected well total depth is 1,342 mRT. The Trocus 3D seismic acquired in 2006 by the ATP-269 joint venture has been used in the structural interpretation.

The Marcoola prospect lies along trend from the prolific Tintaburra-Toobunyah oil fields and Sirius-1, which recovered oil from the Birkhead/Hutton interval. The Tintaburra-Toobunyah oil fields have produced approximately 5 million barrels of oil.


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