Oilex Completes Wire Line Run at Lore-1 in Timor Sea
Oilex has advised that on the Loré-1 well, the first of a 2 well program in the Timor Sea contract area JPDA 06-103, the initial wire line run has been completed after the well reached total depth at 3,581 meters. The well intersected the objective Elang and Plover formations close to prognosis and minor oil shows were observed in the Elang section. Preliminary evaluation indicates that there are zones with limited oil saturation in the Elang formation which will be evaluated with further wire line logging.
After finishing the Loré-1 well, the Songa Mercur will move to the Lolotoe prospect. Lolotoe is a robust 3 way dip faulted anticline having about 300 meters of vertical relief. The prospect is targeting a mean prospective oil resource of 90 million barrels (100% basis) in the primary objective Elang/Plover formations. The water depth at the proposed well location is 105 meters.
- Transocean To Buy Norwegian Rig Firm Songa Offshore For $1.1B (Aug 15)
- Songa Offshore to Cut 430 Jobs Due to Ongoing Norway Oil, Gas Strikes (Sep 30)
- Songa Encourage Rig Commences 8-Year Statoil Drilling Contract (Apr 12)
Company: Oilex Ltd more info
- Oilex Looks to up Cambay Stake to 100% (Dec 13)
- Oilex Progressing Work Plan to Unlock Gas Resources in India's Cambay Block (Jun 27)
- Australia's Oilex, Zeta Resources Agree to Terminate Legal Proceedings (Jun 08)