FAR: Electric Logs Confirm Gas Pay at Lake Long Project

First Australian Resources says that the S/L 328 #9 well on its Hollywood Prospect in Lake Long, La., has encountered gas pay in the Upper and Middle Hollywood pressure test. The well has reached its third casing point at 12,489 feet measured depth (12,427 feet true vertical depth) where electric logs and side wall cores were taken over the Upper and Middle Hollywood Sands objectives to confirm reported hydrocarbons from mud log and LWD gamma/resistivity log observations.

Following logging, 7 5/8" casing was run and set. Current activity is completion of pressure testing of casing in order to drill ahead in vertical 6-1/2" hole to final Lower Hollywood Sands objective and thence to total well measured depth of 13,567 feet measured depth.

From the analysis of electric logs 13 feet of net log pay has been calculated for the Upper Hollywood Sands objective and; 29 feet of net log pay has been calculated for the Middle Hollywood Sands objective.

These pay intervals are now behind pipe allowing for future production.

The well targets multi-pay Hollywood Sands objectives, lying between 11,800 feet measured depth (11,700 feet true vertical depth) and the total well measured depth of 13,567 feet, which have a cumulative target potential of 21.7 billion cubic feet of gas and 760,000 barrels of condensate. The prospect is considered to be relatively low risk as there is good 3D seismic amplitude support of the multi-pay targets, which are interpreted as indicating gas and the well is up dip on structure to the nearby producing (Hollywood Sands) Palace (SL 328) #1 well.

Interests in the well are also held by the Operator, Kriti Exploration Inc and ASX listed entities Amadeus Energy Limited and Sun Resources NL.

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