Mosaic Oil NL advises that completion operations at the Waggamba 5H (PL 202, Surat-Bowen Basin, Qld, MOS-65% Oil/ Condensate; Gas – 50%) location have been finalised.

A stabilised gas rate of approximately 1.2 MMscfd with condensate was attained after a 21hr clean up flow period. This well had previously been unable to sustain flow. The additional sidetracks drilled in this well have improved the performance of the well which will now be brought into production via Mosaic’s gas gathering system. Waggamba 5H will be placed on a longer term production test in the next two weeks to obtain further reservoir data to assist in further development of this field.

Taylor 22 (PL 16, Surat-Bowen Basin, Qld, MOS-100%) will be completed as a Showgrounds gas producer early next week. A Drill Stem Test over the Showgrounds Sandstone flowed gas to surface in 3 minutes, reaching gas flow rates of 3 to 4 MMscfd. Fluid recovery consisted of 20 litres of condensate with no water.

The Taylor 20 gas/condensate development well (PL 16, Surat-Bowen Basin, Qld, MOS-100%) was spudded at 21:00 hrs on the 12th July, 2009. The 12 ¼” surface hole was drilled to a depth of 218 meters and 9 5/8” surface casing was run and cemented. The well is designed to target attic gas reserves in the Showgrounds Sandstone reservoir up-dip of the existing Taylor-7 and 15 producers. Total depth of the well is planned to be 2050 metres.

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