ABN 22 009 171 046
PRODUCTION TESTING CONTINUES AT BULLSEYE PROSPECT |
Jumonville # 2 Bullseye Prospect, Iberville Parish, Louisiana, Non Operator 5% WI
The Company advises that the upper Cib Haz interval was perforated and resulted in only small amounts of production fluid flow back. These initial results are similar to the lower Cib Haz interval tested earlier. While further analysis of the Cib Haz results continues in order to determine an appropriate course of action, the decision has been made to move on to the main target of the well which is the Miogyp sandstone. The Miogyp sandstone appears to be oil-bearing, judging from the mudlog shows, logs and sidewall-core information. The Miogyp is interpreted to be about 20 feet thick in the Jumonville #2 well and is the currently producing formation at Jumonville #1. Surface facilities are in place and connected to the already established sales line that currently handles the Jumonville #1 oil and gas production.
On behalf of the Board of Directors
For further information on the Company and to view the full announcement, please visit our website:
www.qpnl.com.au
For information contact:
Mark Freeman Executive Director | Brett Mitchell Director / Company Secretary | |
Forward Looking Statements
This announcement may contain forward looking statements that are subject to risk factors associated with oil and gas businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause the actual results to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserves and resources estimates, loss of market, industry competition, environmental risks, physical risks, legislative changes, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.