NWE 9.09% 0.6¢ norwest energy nl

cliffhead 3 drilling

  1. 31,619 Posts.
    lightbulb Created with Sketch. 302
    ORWEST ENERGY NL 2003-01-07 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Norwest Energy NL advises that as of 6am (Western Standard Time)
    today the Cliff Head 3 appraisal well had set 20 inch casing and
    13(3/8)inch float shoe. The current activity was nippling up the
    diverter. It is expected that Cliff Head 3 will penetrate the
    anticipated reservoir, reach total depth and run a preliminary set of
    wireline logs before the end of this week.

    Cliff Head 3 is the first of at least 3 exploration and appraisal
    wells to be drilled by the Ensco 53 jack up during the 1st Quarter
    2003 in both WA-286-P and adjacent TP/15. A number of contingent
    wells are planned depending upon the results of the firm drilling
    programme. As such the total number of wells to be drilled will be
    determined as the programme progresses.

    Cliff Head 3 surface location is 2.4 kilometres northwest of the
    bottom hole location of the Cliff Head 2 appraisal well. Cliff Head 3
    will be drilled as a near vertical well to a total depth of 1,311
    metres subsea. This well will evaluate the reservoir potential of the
    upthrown fault block in the northern portion of the Cliff Head Oil
    Field.

    Subject to the initial drilling results, one to two sidetrack holes
    may be drilled from the Cliff Head 3 surface location. The first
    would be designed as a minimal sidetrack to twin the original (Cliff
    Head 3) hole so as to provide an optimum opportunity to core the main
    zone/s of interest, run casing and test the potential reservoir. The
    second potential sidetrack, dependent upon the results of the two
    earlier holes, would be designed to further appraise the field
    through the drilling of an additional higher-angled sidetrack hole to
    a bottom hole location approximately 750 metres to the south of the
    Cliff Head 3 surface location.

    Because the potential reservoir depth is relatively shallow
    regionally (1,100 metres to 1,900 metres subsea), individual wells
    are not expected to take more than a week to drill.

    Following drilling and if warranted, testing, of the Cliff Head 3
    appraisal well together with any sidetracks, the Ensco 53 Jack up
    drilling rig is scheduled to drill Twin Lions 1 in the adjacent TP/15
    permit. The Twin Lions structure is situated about 5 kilometres to
    the north-northeast of the Cliff Head Oil Field and is geologically
    similar, forming part of the same trend.

    If Twin Lions 1 is successful, it is likely that a second well will
    be directionally drilled from the number 1 location to test the
    extent of any hydrocarbons westward into WA-286-P.

    FIRM WELLS

    WELL PERMIT POTENTIAL EQUITY
    (MM BBL IN PLACE)

    Cliff Head 3 WA-286-P 80-100 5.0%
    Twin Lions 1 TP/15 360 10.0%*
    Mentelle 1 WA-286-P 50 5.0%

    * paying 20% plus testing capped

    Please Note: Norwest plans daily report during the drilling of these
    wells and hence will keep the market fully appraised.


    The WA-286-P Joint Venture comprises:

    EQUITY

    Westranch Holdings Pty Ltd (a subsidiary
    of Norwest Energy NL) 5.0%

    Roc Oil (WA) Pty Ltd (Operator) 30.0%

    AWE Oil (Western Australia) Pty Ltd 27.5%

    Wandoo Petroleum Pty Ltd 25.0%

    ARC Energy NL 7.5%

    Voyager Energy Limited 5.0%


    The TP/15 Joint Venture comprises:

    EQUITY

    Westranch Holdings Pty Ltd (a subsidiary
    of Norwest Energy NL) 10.0%

    Hardman Oil & Gas Pty Ltd 30.0%

    AWE Oil (Perth Basin) Pty Ltd 25.0%

    Roc Oil (WA) Pty Ltd (Operator) 20.0%

    ARC Energy NL 7.5%

    Voyager Energy Limited 5.0%

    Bounty Oil and Gas NL 5.0%

    I Burgess
    CHIEF EXECUTIVE OFFICER AND DIRECTOR

 
watchlist Created with Sketch. Add NWE (ASX) to my watchlist
(20min delay)
Last
0.6¢
Change
0.001(9.09%)
Mkt cap ! $23.15M
Open High Low Value Volume
0.6¢ 0.6¢ 0.6¢ $197.0K 32.84M

Buyers (Bids)

No. Vol. Price($)
5 5730053 0.6¢
 

Sellers (Offers)

Price($) Vol. No.
0.7¢ 35043326 37
View Market Depth
Last trade - 12.23pm 22/01/2020 (20 minute delay) ?
(live)
Last
0.6¢
  Change
0.001 ( 0.00 %)
Open High Low Volume
0.6¢ 0.6¢ 0.6¢ 3140610
Last updated 14.10pm 22/01/2020 (live) ?
NWE (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.