Muggles-1 Well Set to Spud Mid-May

Apache reports that the Muggles-1 well located in WA-254-P offshore Australia in the carnarvon Basin will be spud in mid-May by the Ensco 56. After the Muggles-1 well is drilled the rig will move to the Vesta Prospect in WA-261-P which is approximately 70 kilometers southwest.

The Muggles Prospect is an M Australis stratigraphic pinchout trap within a Cretaceous channel on the Enderby Terrace. Prospect potential is estimated at 33.5 (mean) million barrels of oil recoverable. Muggles-1 is designed as a throw away well with planned total depth of 1,454 meters in water depth of 68 meters and a drill duration of approximately 6 days. If drilling is successful the discovery could be tied back to the Woodside operated Legendre Oil Field, lying 10 kilometers northwest.

Participants in the well are apache as operator with 69.7305%; Sun Resources with 10.2895%; First Australian Resources with 10.743%; Victoria Petroleum with 6.1743% and Pan Pacific with the remaining 2,9914%.