Oilex Notes Progress in Cambay Clean-Up Ops

- Oilex Notes Progress in Cambay Clean-Up Ops

Wednesday, September 07, 2011
Oilex Ltd.

Oilex advised that operations to prepare for well clean-up flow and production testing are continuing. Operations to retrieve down hole equipment, open up the remaining fracture stimulation stages and install production tubing will be conducted with a workover rig. Given the likely duration of this phase of the operations will be a few weeks, Oilex will provide the next update on operations when progress has been made.

The Cambay-76H "proof of concept" horizontal well is evaluating the production potential of the Y Zone interval of the extensive deep Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract area, Gujarat, India.

• Report date: September 6, 2011
• Status Preparations for well clean-up flow and production testing
• Past Week's Operations
  • Sourcing rig and equipment for the planned operation to retrieve tools in well
  • Successfully completed chemical cutting of coil tubing in hole
  • Demobilized surplus equipment, personnel and services.
• Objective: Cambay Eocene "tight" reservoir Y Zone
• Total Depth: 2,740 meters including 610 meters horizontal section

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex Prepares Cambay Well for Clean-Up Ops

- Oilex Prepares Cambay Well for Clean-Up Ops

Wednesday, August 31, 2011
Oilex Ltd.

Oilex advised that operations to prepare for well clean-up flow and production testing are continuing. The coil tubing unit was not able to retrieve milling tools being used to open the second fracture stimulation stage. Consequently, it is planned to mobilize a work-over rig to the well location to retrieve the milling tools. Following this, operations will resume to open up the remaining fracture stimulation stages so that clean-up operations and a flow test can be conducted.

The Cambay-76H "proof of concept" horizontal well is evaluating the production potential of the Y Zone interval of the extensive deep Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract area, Gujarat, India.

• Report date: August 30, 2011
• Status: Preparations for well clean-up flow and production testing
• Past Week's Operations:
  • Coil tubing operations to retrieve tools
  • Mobilizing chemical cutting equipment
  • Initial planning for work-over rig operations
• Objective: Cambay Eocene "tight" reservoir Y Zone
• Total Depth: 2,740 meters including 610 meters horizontal section

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex Readies Cambay Well for Production Testing

- Oilex Readies Cambay Well for Production Testing

Wednesday, August 17, 2011
Oilex Ltd.

Oilex advised that the well is being prepared for well clean-up flow and production testing. The well is currently being flowed to surface to remove stimulation fluids from the eighth fracture stimulation stage and hydrocarbons are being flowed intermittently to surface along with the stimulation fluids. Milling operations to open up the remaining seven fracture stimulation stages have started. After the completion of the clean-up operations a flow test will be conducted.

The Cambay-76H "proof of concept" horizontal well is evaluating the production potential of the Y Zone interval of the extensive deep Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract area, Gujarat, India.

• Report date: August 16, 2011
• Status: Flow back and milling operations in progress
• Past Week's Operations:
  • Preparing for well clean-up operations
  • Commenced first flow-back of hydrocarbons and stimulation fluids
• Objective: Cambay Eocene "tight" reservoir Y Zone
• Total Depth: 2,740 meters including 610 meters horizontal section

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex Preps for Flow Back at Cambay Well

- Oilex Preps for Flow Back at Cambay Well

Wednesday, August 10, 2011
Oilex Ltd.

Oilex advised that all eight stages of the fracture stimulation program of the horizontal section in the Cambay-76H well were pumped successfully and according to plan.

The well is currently being prepared for flow to surface to remove stimulation fluids from the formation (well clean-up phase). After the completion of the clean-up operations a flow test will be conducted.

The Cambay-76H "proof of concept" horizontal well is evaluating the production potential of the Y Zone interval of the extensive deep Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract area, Gujarat, India.

• Report date: August 9, 2011
• Status: Prepare for flow back and clean-up operations
• Past Week's Operations:
  • Completed eight stage fracture stimulation program
  • Completed micro-seismic and pressure data acquisition
  • Preparations for well clean-up operations
• Objective: Cambay Eocene "tight" reservoir Y Zone
• Total Depth: 2,740 meters including 610 meters horizontal section

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex: Second Stage in Cambay's Frac Stimulation Program Underway

- Oilex: Second Stage in Cambay's Frac Stimulation Program Underway

Wednesday, August 03, 2011
Oilex Ltd.

Oilex advised that the first stage of the large volume multi-stage fracture stimulation program of the horizontal Cambay-76H well has been completed successfully and the second stage is now underway.

The fracture stimulation program comprises eight stages with two fracture initiation points per stage. After completion of the fracture stimulation program the well will be flowed to surface to remove stimulation fluids from the well bore (well clean-up phase) and then a flow test will be conducted.

The Cambay-76H "proof of concept" horizontal well is evaluating the production potential of the Y Zone interval of the extensive Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract ("PSC"), Gujarat, India.

• Report date: August 2, 2011
• Status: Conducting fracture stimulation operations
• Past Week's Operations
  • Rigging up fracture stimulation equipment
  • Testing wellhead equipment, replace faulty high pressure valves
  • Prepare well bore and conduct mini fracture stimulation test prior to first stage large volume fracture stimulation
• Objective: Cambay Eocene "tight" reservoir Y Zone
• Total Depth: 2,740 meters including 610 meters horizontal section

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex Completes Frac Stimulation Ops at Cambay Well

- Oilex Completes Frac Stimulation Ops at Cambay Well

Wednesday, July 27, 2011
Oilex Ltd.

Oilex advised that the mobilization for the large volume multi-stage fracture stimulation of the horizontal Cambay-76H well has been completed with all equipment now on site and rigged up. The Black Pearl drilling rig has been fully demobilized from site.

In preparing for the start of the fracture stimulation program; a test of all surface equipment has been conducted, mixing of chemicals and loading of proppant and water to tanks is underway and coiled tubing operations are being completed.

The fracture stimulation program will comprise eight stages with two fracture initiation points per stage. The well will then be flowed to surface to remove stimulation fluids and clean up the well bore prior to conducting the flow test.

The Cambay-76H "proof of concept" horizontal well is evaluating the production potential of the Y Zone interval of the extensive Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract ("PSC"), Gujarat, India.

• Report date: July 26, 2011
• Status: Preparing for fracture stimulation operations
• Past Week's Operations:
  • Demobilizing drilling rig
  • Mobilizing and rigging up fracture stimulation equipment
• Objective: Cambay Eocene "tight" reservoir Y Zone
• Total Depth (TD): 2,740 meters including 610 meters horizontal section

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex Continues Ops to Demobilize Rig at Cambay PSC

- Oilex Continues Ops to Demobilize Rig at Cambay PSC

Wednesday, July 13, 2011
Oilex Ltd.

Oilex advised that operations are continuing to demobilize the Black Pearl rig and associated drilling equipment.

Mobilization of the equipment required to conduct the large volume multi-stage fracture stimulation of the Y Zone tight gas reservoir is near completion and rigging up is progressing. In total, 16 zones will be stimulated in 8 stages over the length of the horizontal section of the well bore (approximately 600 meters).

• Report date: July 12, 2011
• Status:
  
  • Demobilizing drilling rig
  • Mobilizing fracture stimulation equipment
• Past Week's Operations Demobilizing drilling rig
• Objective Cambay Eocene "tight" reservoir Y Zone
• Total Depth (TD) 2,740 meters

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex Reaches TD at Cambay HZ Well

- Oilex Reaches TD at Cambay HZ Well

Wednesday, July 06, 2011
Oilex Ltd.

Oilex advised that as at 23:30 Indian Standard Time on July 5, 2011 the Cambay-76H horizontal well has been drilled to a total depth of 2,740 meters and the completion string has been run successfully. The drilling rig will now be demobilized in preparation for mobilizing the multi-stage fracture stimulation equipment and related services.

• Report date: July 5, 2011
• Status: Preparing to demobilize drilling rig in preparation for fracture stimulation operations
• Past Week's Operations
  • Drilled remainder of 8 ½" horizontal hole from 2,596 to 2,740 meters
  • Run completion string for multi stage fracture stimulation from 2,195 to 2,719 meters
• Objective: Cambay Eocene "tight" reservoir Y Zone
• Total Depth (TD): 2,740 meters

Well log data indicated porous hydrocarbon-bearing intervals with elevated gas readings throughout the horizontal section drilled in the Y Zone.

After drilling the hole to Total Depth, the completion string for the planned multi-stage fracture stimulation program was successfully run in the horizontal well section. The Black Pearl drilling rig will now be demobilized from the well site so the high volume fracture stimulation equipment and related services can be mobilized in preparation for carrying out the Y Zone fracture stimulation operations.

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex IDs Hydrocarbons at Cambay Well

- Oilex IDs Hydrocarbons at Cambay Well

Wednesday, June 29, 2011
Oilex Ltd.

Oilex advised that at June 28, 2011 the Cambay-76H horizontal well was directionally drilled as planned to a depth of 2,596 meters.

• Report date: June 28, 2011
• Status Drilling: 8 ½" hole at 2,596 meters
• Past Week's Operations
  • Drilled 8 ½" hole from 1,595 to 2,596 meters including
  • Horizontal section from 2,106 to 2,596 meters
• Objective: Cambay Eocene "tight" reservoir Y Zone
• Kick off point for deviation: 1,167 meters
• Planned Total Depth (TD): Approximately 2,885 meters
• Well duration: Approximately 35 days on a trouble free basis

All depths refer to measured depth below rig rotary table ("MD")

After kicking off from the vertical hole at 1,167 meters, the well was drilled to the horizontal landing point at 2,106 meters and the horizontal section drilled to 2,596 meters.

The Y Zone reservoir was intersected on prognosis. As anticipated, the horizontal section drilled to date in the Y Zone is characterized by log-indicated porous hydrocarbon-bearing intervals with highly elevated gas readings.

Cambay Eocene Tight Reservoirs

The Company is making progress in unlocking the potential of the Cambay "tight" Eocene reservoirs that extend across the 161 km2 Cambay Production Sharing Contract ("PSC") area in onshore Gujarat, India. The Company intends to evaluate and exploit these reservoirs using horizontal drilling and fracture stimulation technology that has been developed and proven in North America.

The Cambay-76H "proof of concept" horizontal well will evaluate the production potential of the Y Zone interval of these "tight" reservoirs. An 8 stage fracture stimulation program will be conducted and after well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex Makes Progress at Cambay Well

- Oilex Makes Progress at Cambay Well

Wednesday, June 22, 2011
Oilex Ltd.

Oilex advised that the Cambay-76H horizontal well was directionally drilled as planned to casing point at 1,595 meters.

• Report date: June 21, 2011
• Status: Preparing to drill 8 ½" hole
• Past Week's Operations: 
  • Drilled 12 ¼" hole from 601 meters to 1,595 meters
  • Set 9 ⅝" casing to 1,594 meters
  • Tested BOP
• Objectives: Cambay Eocene "tight" reservoir Y Zone
• Kick off point for deviation: Approximately 1,100 meters
• Planned Total Depth (TD): Approximately 2,885 meters
• Days to TD: Approximately 35 days on a trouble free basis

Cambay Eocene Tight Reservoirs

The Company is making progress in unlocking the potential of the Cambay "tight" Eocene reservoirs that extend across the 161 km2 Cambay Production Sharing Contract ("PSC") area in onshore Gujarat, India. The Company intends to evaluate and exploit these reservoirs using horizontal drilling and fracture stimulation technology that has been developed and proven in North America.

The Cambay-76H "proof of concept" horizontal well will evaluate the production potential of the Y Zone interval of these "tight" reservoirs. An 8 stage fracture stimulation program will be conducted and after well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex Drills Ahead at Cambay Well

- Oilex Drills Ahead at Cambay Well

Wednesday, June 15, 2011
Oilex Ltd.

Oilex advised that at June 14, 2011 the Cambay-76H horizontal well was drilled to a depth of 601 meters and is preparing to drill ahead.

• Report date: June 14, 2011
• Status: Preparing to drill ahead
• Operations:
  • Spudded well on June 8th
  • Drilled 17 ½" hole to 601 meters
  • Set 13 ⅜" casing to 599 meters
• Objectives: Cambay Eocene "tight" reservoir Y Zone
• Kick off point for deviation: Approximately 1,100 meters
• Planned Total Depth (TD): Approximately 2,885 meters
• Days to TD: Approximately 35 days on a trouble free basis

Cambay Eocene Tight Reservoirs

The Company is making progress in unlocking the potential of the Cambay "tight" Eocene reservoirs that extend across the 161 km2 Cambay Production Sharing Contract ("PSC") area in onshore Gujarat, India. The Company intends to evaluate and exploit these reservoirs using horizontal drilling and fracture stimulation technology that has been developed and proven in North America.

The Cambay-76H "proof of concept" horizontal well will evaluate the production potential of the Y Zone interval of these "tight" reservoirs. An 8 stage fracture stimulation program will be conducted and after well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.

The participating interests in the Cambay PSC are:

• Oilex Ltd (Operator) 30%
• Oilex NL Holdings (India) Limited 15%
• Gujarat State Petroleum Corporation Ltd 55%

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Oilex Commences Drilling at Cambay Well

- Oilex Commences Drilling at Cambay Well

Wednesday, June 08, 2011
Oilex Ltd.

Oilex advised that the Cambay-76H horizontal well was spudded at 00:00 hours (WST) on June 8, 2011.

The Cambay-76H "proof of concept" well will evaluate the production potential of the Y Zone interval of the extensive Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract ("PSC") in Gujarat State, India.

It is estimated that the well, which includes a 610 meter lateral section, will take approximately 35 days to drill and complete. An 8 stage fracture stimulation program of the Eocene "tight" reservoir Y Zone will then be conducted. After well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.

The results of the long term production test will also provide important information for the ongoing Independent Reserves Certification commissioned by the Company.

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