HDR hardman resources limited

any ann out yet??, page-4

  1. 325 Posts.
    BOUNTY OIL & GAS NL 2002-05-20 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Bounty Oil & Gas NL provides the following progress report on the
    drilling of the Woodada #19 gas well. All depths are in metres below
    the Kelly Bushing on the rig floor.

    PERIOD:

    72 hours to 6am on 20/5/02.

    CURRENT DEPTH:

    2,841 mKB (Total Depth).

    PROGRESS:

    Complete running of wireline logs over open hole section from 1,479
    to 2,841 mKB. Condition hole and attempt to run in hole to undertake
    Drill Stem Test #2 (DST #2). Test tools became stuck at 2,278 metres.
    Pull out of hole and conduct wiper trip with drill string to condition
    hole. Re-run test tools in hole. Conduct DST #2 successfully. Pull
    out of hole and prepare to run DST #3

    RESULTS FROM WIRELINE LOGGING:

    Good quality wireline logs were achieved from two logging runs.
    Significant gas bearing intervals were interpreted from wireline logs
    as follows:

    Carynginia Limestone from 2,173.5 to 2,254 metres: Gas bearing
    limestones interpreted over entire interval of Carynginia Limestone,
    apparent good reservoir quality zones occur within the interval.

    Note: The intention is to run 7 inch (1 78mm) casing and perforate
    over this interval to undertake long term flow testing to confirm the
    economic production potential.

    Irwin River Coal Measures from 2,519.5 to 2,780 metres: Interbedded
    sandstone, claystone / shale and minor coal beds with sandstones
    interpreted to be gas bearing over entire interval. Apparent fair to
    good reservoir potential and gas saturation over several sandstone
    beds generally 1 to 2 metres thickness with a combined thickness of
    20 to 30 metres.

    High Cliff Sandstone from 2,780 to 2,799.5 metres: Sandstone, very
    fine to fine grained, apparent hydrocarbon saturation with only fair
    reservoir quality over sandstone beds with combined thickness of 3
    metres.

    PRELIMINARY RESULTS FROM DST #2:

    Off bottom test of sandstones within basal part of Irwin River Coal
    Measures and High Cliff Sandstone. Test interval was 2,723 to 2,841
    metres (total depth).

    Flow period of 30 minutes with very small flow, rate was too small to
    measure. Recovered approx 4 litres of contaminated drilling mud with
    oil/condensate scum and minor amounts of gas in the mud.

    Note: Further analyses are in progress on the results from DST #2.

    FORWARD PROGRAM:

    Conduct DST #3 over the entire Irwin River Coal Measures.

    PREVIOUS HYDROCARBON INDICATIONS:

    Background gas in Carynginia Shale Formation

    Significant gas shows in Carynginia Limestone

    Background gas in Irwin River Coal Measures (up to 23% gas in
    drilling mud)

    PRIMARY AND SECONDARY TARGETS:

    Please refer to previous announcements.

    PARTICIPANTS:

    Hardman Resources Ltd 75%
    Bounty Oil & Gas NL 25%


    T Fontaine
    MANAGING DIRECTOR


 
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