Update on Activities
Summary
Heintschel Gas Condensate Field
- Significant progress in determining optimum well design for future Heintschel development wells with frac designed specific to the Heintschel reservoir
- BUR revenue from 4 wells currently ~A$270,000 per month
- Reservoir rock has proved to be very productive
- Independent reserves/resources results in 3Q11.
Other production
- Joann #1 well a strong producer
Exploration
- BUR to drill Hill Prairie Bell prospect with 75% working interest, August spud
- Moeller #2 well expected to be drilled 4Q11.
- Several other Wilcox prospects plus new prospects being generated in Colorado County 3D and 1K3D project
2011 Activity Timeline
- Heintschel independent reserves/resources report, 3Q11
- Hill Prairie Bell exploration well (BUR: 75% WI) August 2011
- Heintschel development well (BUR 38%), September 2011
- One exploration well and possible Heintschel development well 4Q 2011.
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