Muggles-1 Well Offshore Australia Comes Up Dry

Apache Northwest Pty Ltd reports that the Muggles 1 well located offshore Australia in WA-254-P intersected the target M australis stratigraphy in the Cretaceous channel and found it to be non reservoir in character at this location (silt dominant) with as to be expected no significant gas shows or fluorescence.

To increase the understanding of the channel stratigraphy the joint venture decided to deepen the well to total depth of 1,600 meters MDRT rather than 1,454 meters MDRT to intersect all sediments to the base of the target channel.

Upon reaching revised total depth, final logs and sidewall cores were run and the well was then plugged and abandoned over the weekend.

Participants in Muggles were:- Apache Northwest Pty Ltd 69.7305% (Operator)
Sun Resources NL 10.3895%
First Australian Resources Ltd 10.7143%
Victoria Petroleum NL 6.1743%
Pan Pacific Petroleum NL 2.9914%