VPE 0.00% 41.5¢ victoria petroleum nl

another fixed date for a well

  1. 7,063 Posts.
    Go baby!


    Victoria Petroleum NL advises that its wholly owned US subsidiary Victoria Petroleum Inc has
    entered into a participation agreement with Trio Petroleum Inc which will see Victoria Petroleum
    participate in the immediate drilling of West San Antonio No. 1 on the West San Antonio Prospect,
    Salinas Basin, California, as part of Victoria Petroleum’s ongoing 2004 California drilling program.
    The West San Antonio Prospect is a multiple target oil prospect interpreted to have the potential to
    contain up to 24 million barrels of recoverable oil and 56 billion cubic feet of gas in the target
    Miocene sands, if oil and gas are present.
    Although Victoria Petroleum NL considers the West San Antonio No. 1 well to be drilled
    exploratory in nature, the potential for oil to flow from the target horizons is considered encouraging
    in view of the strong oil shows observed in a down dip 1959 well drilled six hundred metres to the
    south east of the West San Antonio No. 1 location.
    Further encouragement for the presence of oil in the West San Antonio Prospect area is provided by
    adjacent production of 500 million barrels of oil from the San Ardo Field, 15 kilometres to the north.
    Drilling of the West San Antonio No. 1 well by the Operator, Trio Petroleum Inc, to a planned total
    depth of 2,042 metres is planned to commence on 16th January 2004 and take 24 days to reach total
    Victoria Petroleum has a 5% working interest in the West San Antonio No. 1 well with private
    American interests holding the balance.
    VICTORIA PETROLEUM N.L. A.B.N 50 008 942 827
    Incorporated in Western Australia
    san antonio -68
    Any hydrocarbons discovered in the West San Antonio No. 1 well and prospect are commercially
    very attractive as an oil pipeline to take any oil production from the West San Antonio Prospect to
    the San Ardo Oil Field, is situated 3kms from the West San Antonio No. 1 well site at the San
    Antonio Oil Field in which Victoria Petroleum N.L. has an interest.
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