Stuart Petroleum Logs Pay with Worrior 1

Stuart Petroleum said that its Worrior 1 well near Moomba in South Australia flowed 2,800 barrels of oil a day from a drill stem test. The oil has an API gravity of 52.5 and there was no water produced during the flow period. The significance of this third new zone oil discovery will be fully evaluated following the acquisition of wireline logs at the completion of the drilling operations.

Two wells have previously been drilled on the broad Worrior structure, both downdip of the crest. Both previous wells (Pando #1 & Karbine #1) reported strong live oil shows but neither produced oil on test. Both wells demonstrated good reservoir characteristics in the oil show sands. The Worrior 1 well tested the crest of the structure for structurally trapped oil.

This is the first of a four-well program for Stuart. The other three wells to be drilled are Kiwi 1, Delta 1 and Arwon 1.

Participants in the Worrior 1 well are Stuart Petroleum as operator with 70/5 and Cooper Energy NL with the remaining 30%.

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