Vicpet Clips Stormbird-1's Wings, Plans to Drill Growler-5

Victoria Petroleum N.L., as operator for the PEL 104 Joint Venture, advised that over the weekend, Stormbird-1 reached total depth of 2,176 meters in Basement. Side wall cores showed oil fluorescence at 1,812 meters and at 2,175 meters.

The formation sample tester (MDT) recovered 1.5 liters of 43 degree API oil from Basement quartzite at 2,175 meters and formation water from 1,812 meters. Although the oil recovery from Basement is the first for PEL 104, the narrow interval and relatively low permeability indicate this Basement oil zone would be non-commercial. The primary target, the Birkhead sands, were water bearing at this location.

The operation was preparing to plug and abandon Stormbird-1 today. Stormbird-1 was the last well in the 2008 exploration program of four exploration wells drilled on a continuing basis by Century Rig #3.

The MB Century Drilling Rig #3 will now move 8.1 kilometers to the west to the Growler Oil Field to drill the development well Growler-5, targeting the eastern extension of the Birkhead sands oil productive in the Growler Oil Field and currently producing approximately gross 930 barrels of oil per day.