PCL 0.00% 0.2¢ pancontinental oil & gas nl

Pancontinental Announcements

  1. 1,669 Posts.
    07/10/2002 13:25:00
    Jingemia 1 Status Report

    PANCONTINENTAL OIL & GAS NL 2002-10-07 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    EP 413, PERTH BASIN
    PANCONTINENTAL: 1.278%

    The Company has been advised by the operator, Origin Energy
    Developments Pty Ltd that the Century Rig 24 spudded the Jingemia 1
    exploration well on Sunday 6 October, and at 0600 hrs, was drilling
    ahead at 238 metres.

    Jingemia is located in the onshore Perth Basin,24 kms south of the
    Dongara township and Dongara gas and oil field. The Jingemia
    prospect is a fault dependent closure very similar to the Hovea oil
    discovery 5 kms to the north-east and will target the Dongara
    Sandstone, shown to be oil productive in the Hovea 1 and 3 wells, and
    the deeper High Cliff sandstone, shown to be gas productive in the
    Hovea 2 well.

    In order to test these objectives, the well has a prognosed total
    depth of approximately 2800 metres.

    (ASX* listed)Participants in the EP 413 Equity %
    Joint Venture are:

    * Pancontinental Oil & Gas NL 1.2780%
    (through subsidiary Euro Pacific Pty Ltd)

    * Origin Energy Developments Pty Ltd (Operator) 49.1890%

    * Hardman Oil & Gas Pty Ltd 22.3760%

    * AWE (Perth Basin) Ltd 15.2450%
    (Subsidiary of Australian Worldwide Exploration Ltd)

    * Victoria Petroleum Offshore Pty Ltd 5.7685%

    * Voyager Petroleum NL 5.7685%
    (through subsidiary Chimelle Petroleum Ltd)


    Enquiries:

    Andrew Svalbe
    Director, CEO.

    Tel: 08 9227 7178
    Fax: 08 9227 9079
    Email: [email protected]

    It is advised in accordance with Australian Stock Exchange Limited
    Listing Rule 5.11 that the report on the above project has been
    prepared by Mr Andrew Svalbe, AAPG, PESA, ASEG, FESWA who has had more
    than the required five years experience and is a competent person as
    defined in the Listing Rules of Australian Stock Exchange Limited and
    has consented in writing to the inclusion of this report as it appears
    here.



 
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