Entek Reports Hydrocarbon Shows at Byrock Well
Entek Energy Limited reported that BYROCK-2 has drilled into the target Toolachee Formation and encountered strong shows. The well is drilling ahead slowly through the interval to an appropriate test depth.
It is planned to run a DST (Drill Stem Test) during daylight hours on November 2nd 2006. BYROCK-2 was planned to be drilled to approximately 2,060 mRT, with the primary objective being the Toolachee Formation.
This well is a follow-up to BYROCK-1 which recovered 14.5 barrels of oil on test from a five meter oil column in the Toolachee formation, before being plugged and abandoned in January 1986 as the discovery was not considered commercial at the time. Entek is earning equity in ATP-269P in a three-well staged drilling program.
COOLUM-1, drilled in 2004 was the first of these wells and earned Entek a 28.15%
interest in the Coolum Block. BYROCK-2 is the second earning well.
If BYROCK-2 is successful, Entek will earn 28.15% of production from the well (after
deduction of royalty and operating costs). The third earning well, scheduled for early 2007, will earn Entek 28.15% of ATP-269P.
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