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heading for the money

  1. Mangrove

    1,747 posts.
    Just off the press, everything is going to plan for a result at the end of the week. There is every reason to hold on with so much happening. Good Luck Guys.

    Regards M.


    8th January 2003



    ASX Company Announcements Office



    Fax: 1300300021 (3 pages)




    Cliff Head Multi-well drilling Programme

    Cliff Head 3 Appraisal Well: drilling ahead
    in 12¼ inch hole



    Norwest Energy NL advises that as of 6am (Western Standard Time) today the Cliff Head 3 appraisal well was drilling ahead in 12¼ inch hole at a depth of 95m. Drilling recommenced at 4am today. 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 fist 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 5.0%
    Voyager Energy Limited 5.0%
    Bounty Oil and Gas NL 5.0%








    For and on behalf of
    Norwest Energy NL



    Ivan Burgess
    Chief Executive Officer and Director


    For further information, please contact: Ivan Burgess CEO/Director
    Ph: 08-9228 8251
    E-mail: [email protected]
    Web Site: www.norwestenergy.com.au


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