Mosaic Discovers Oil with Tinker 4H Well

Mosaic's stated goal of increasing oil production is gaining momentum with its Tinker 4H well in Queensland, Australia, which struck oil this week, is now indicating an estimated 300 barrels of oil per day.

"Mosaic is very focused on its business plan to boost oil production and we will let the results keep speaking for themselves," says Mosaic Chief Executive Officer, Dr. Howard Brady.

At the completion of drilling on Tinker 4H, a bottom hole pressure survey test was conducted which indicated an oil influx into the well bore estimated to be 300 barrels of oil.

In the next few weeks a work-over rig will install production tubing and Tinker 4H will be completed as an oil production well with associated surface equipment.

The Tinker 4H drilling operation has been completed and the coiled tubing drilling rig is now preparing to move to the Lark No. 1 well where Mosaic will seek to make it four successful drills from four attempts using horizontal coiled tubing and nitrified fluids.

The Tinker 4H well is 2 kilometers east of Tinker 2H which flowed an estimated 2 (two) million cubic ft of gas per day and with oil coming to the surface measuring 46 degrees API.