Austral Pacific Reports Cheal-A4 & Cardiff-2 Progress

Austral Pacific Energy reports that the Cheal-A4 well (Austral 36.5%, operator) has now reached its Target Depth of 1856m (6090 feet), and the well is presently being prepared for electric logging, which is due to commence on Tuesday, November 2. Clear indications of oil pay, consistent with prognosis, were observed during drilling at both the Urenui and the Mt Messenger pay levels. The significance of these indications awaits the results of electric logging. After completion of electric logging, the well will be cased and completed for production testing. This is expected to commence next week.

The Cardiff-2 well (Austral 25.1% carried, operator) is drilling ahead in 16" hole at a depth of 1179m (3868 feet) and is expected to reach its next casing point later this week. The Hihi-1 well (Austral 25%) is presently setting casing at 451m (1480 feet) prior to drilling ahead.