Oilex Ltd Award of Key Contracts Cambay-23z Core Analysis (9333C)
April 21 2017 - 2:00AM
UK Regulatory
TIDMOEX
RNS Number : 9333C
Oilex Ltd
21 April 2017
ASX Announcement
21 April 2017
ASX: OEX
AIM: OEX
Award of Key Contracts for Cambay-23z Core Analysis
Oilex Ltd (the Company) is pleased to announce the award of two
key contracts to Schlumberger and Baker Hughes as part of its 2017
work programme at the Cambay PSC. Schlumberger and Baker Hughes
will advise on the optimal well and stimulation design required to
achieve potential commercial flow rates.
The Company has a significant multi TCF gas resource at the
Cambay PSC in the EP-IV tight siltstones that requires drilling
optimisation and stimulation technologies to achieve commercial
flow rates. Both Schlumberger and Baker Hughes are global leaders
in the stimulation of tight gas reservoirs and their selection
follows a competitive tender process.
Schlumberger has been appointed to provide geomechanical, fluid
sensitivity and proppant embedment testing on the Cambay-23z core
along with their recommendations on future technical work. The data
from these tests will be used to carry out the geomechanical
modelling required for optimisation studies.
Baker Hughes has been appointed to provide detailed
geomechanical modelling to assess and recommend optimised drilling
and stimulation solutions to maximise production from the EP-IV
reservoir. In addition to providing a functional geomechanical
model, Baker Hughes will provide specific recommendations on fluid
chemistry and proppant optimisation required for the stimulation of
any future wells.
The studies have commenced and are anticipated to be completed
within approximately 3 months. The analysis of the core from
Cambay-23Z is essential in the planning of both future wells and
the stimulation process at the Cambay PSC.
Mr Joe Salomon said "We are fortunate to be working with world
class tight gas experts, Schlumberger and Baker Hughes. Their
assistance is important to unlocking the commercial success of the
large gas resource at the Company's Cambay project."
Joe Salomon
Managing Director
For further information, please contact:
Investor Broker Nominated Media Enquires Media Enquiries
Enquiries Cornhill Adviser (UK) (Aus)
Oilex Capital Strand Hanson Vigo Communications Citadel-MAGNUS
Ltd Limited Limited Public Relations Michael
Joe Salomon Broker Nominated Patrick Weir
Managing Colin Rowbury Adviser d'Ancona/Chris Email:
Director Email: Rory Murphy/Ritchie McMahon mweir@citadelmagnus.c
Email: colinr@cornhillcapital. Balmer Email: om
oilex@oilex.com.au com Email: patrick.dancona@vigoc Tel: +618
Tel: +61 Tel: +44 oilex@strandhanson.co omms.com 6160 4900
8 9485 20 3700 .uk chris.mcmahon@vigocom Australia
3200 2516 Tel: +44 ms.com
Australia UK 20 7409 Tel: +44 20
3494 7830 9700
UK
This information is provided by RNS
The company news service from the London Stock Exchange
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