Oilex readies to drill Cambay shale well in India

Source: Oilex

Oilex Ltd (AIM: OEX) advises that Black Pearl Drilling Services, the drilling contractor, has commenced the mobilization of the Black Pearl Rig 1 rig and related services, to drill the onshore Cambay-76H tight reservoir well in Gujarat, India on behalf of the Cambay Field Joint Venture.

The rig is mobilizing from another location in Gujarat. Construction work at the Cambay-76H well site has been completed. Procurement of remaining drilling and fracture equipment and services for the well is substantially complete with mobilization to site progressing.

The Cambay-76H well will evaluate the production potential of the extensive Eocene "tight" Y-zone reservoir that extends across the 161 km2 Cambay PSC contract area. The well, which includes a 610-meter lateral section, is expected to take approximately 35 days to drill and complete. A two-month production test will then be conducted after an 8 stage fracture stimulation of the Y zone.

A data package for the Cambay Field "tight" reservoirs has been submitted to an Independent Reserves Certifier, Netherland Sewell Associates Inc ("NSAI") and technical discussions with the USA based Certifier have commenced. The Company has engaged NSAI specifically for their expertise in North American tight reservoirs, some of which have similarities to the Cambay Field "tight" reservoirs.

The completion of the NSAI Independent Reserves Certification process is expected to be concluded in May 2011.

The participating interests in the Cambay PSC are Oilex (operator, 30%), Oilex Holdings (15%) and Gujarat State Petroleum Corp. (55%).

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