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  1. 14 Posts.
    Report on Production Testing Operations at San Antonio-1
    28/8/02 6:05:00 PM



    VICTORIA PETROLEUM NL 2002-08-28 ASX-SIGNAL-G


    HOMEX - Adelaide



    +++++++++++++++++++++++++
    Victoria Petroleum NL has been advised by the Operator for the San
    Antonio Exploration Project, Trio Petroleum Inc, that fracture
    stimulation and testing operations of the significant oil and gas
    shows encountered in the Vacqueros Sand over an interval of 190
    metres have after two weeks of recovery of frac fluid produced an
    initial flow of 80 barrels of clean oil per day with no water.



    Testing and clean up operations will continue at the San Antonio well
    site to increase the flow rate of oil from the gross interval of 314
    metres of interpreted oil bearing pay in the Monterey and Vaqueros
    Formations in the well bore.



    The initial flow of 80 barrels of clean oil per day with no water is
    considered encouraging for further flows of oil from the ongoing
    fracture stimulation and testing operations at the San Antonio well
    site in view of the oil shows and oil flows of up to 500 barrels of
    38 deg API oil per day cutting 20% water observed in a down dip 1983
    well drilled on the flanks of the San Antonio anticline five
    kilometres to the northwest of the San Antonio-1 location.



    The San Antonio anticlinal Prospect is a dual target oil prospect
    interpreted to have the potential to contain up to 106 million
    barrels of recoverable oil in the target Vacqueros Sand and Monterey
    Shale horizons, depending on the results of the current production
    testing program.



    Further encouragement for the presence of oil in the San Antonio
    Prospect area is provided by adjacent production of 500 million
    barrels of oil from the San Ardo Field, 12 kilometres to the north.



    Victoria Petroleum NL has a 5%* working interest in the San Antonio-1
    well through its wholly-owned subsidiary Victoria Petroleum, Inc.






    * After the recovery of drilling and completion costs from production
    from San Antonio-1, Victoria Petroleum's contributing interests in
    ongoing development and production will be 3.75%.



    Any hydrocarbons discovered in the San Antonio-1 well and prospect
    are commercially very attractive as an oil and gas pipeline runs
    within 400 metres of the San Antonio-1 well site.



    Victoria Petroleum NL is very encouraged by the drilling results from
    San Antonio-1, the first well of Victoria Petroleum's ongoing 2002
    California drilling program.






    J Kopcheff
    MANAGING DIRECTOR



    For information on Victoria Petroleum NL drilling activities visit
    our website at www.vicpet.com.au









 
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