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a question for the oil techies on cvi

  1. excelsior

    2,656 posts.
    Can anybody interpret this release for me? I have no idea what a wiper trip is, or what level of gas they are talking about when they say 300-400 units. Madura is very prospective for gas wells, and has a few producing oil wells, but the oil is the thing that is important here. Anything in this release to indicate oil?

    CITYVIEW CORPORATION LIMITED 2002-12-31 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    CityView Corporation Limited ("CityView") (ASX:CVI) has received the
    following information from its Joint Venture partner and Operating
    Shareholder, Pt Medco Energi Internasional TBK ("Medco"):

    OPERATOR: MEDCO MADURA - PERTAMTNA JOB
    WELL: TAMBUKU #1
    RIG: PT APEXINDO 1500HP RIG 2
    SPUD: 21 OCTOBER 2002 (Midnight)
    TARGET DEPTH: PROGRAMMED FOR 10,416 feet
    PRESENT DEPTH: 6,890ft

    FORMATION OBJECTIVE:
    Tuban (Sandstone)
    Prupuh (Limestone - Sandstone)
    Kujung (Limestone - Sandstone)
    Poleng (Limestone - Sandstone)
    Ngimbang (Limestone - Sandstone)
    TD (Limestone - Sandstone)

    ACTIVITY:

    * The wellhas been drilled to 6,890 feet,
    * Background gas ranges from 300 to 400 units.
    * Cuttings indicate shale, limestone and sandstone.
    * A wiper trip has been run and the Operator has decided to run logs
    in order to determine the formation being drilled in comparison with
    the seismic date.

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