Workover of Cardiff 2AST1
WELLINGTON, New Zealand, Aug. 26 /CNW/ -- Austral Pacific Energy Ltd.
(TSX-V: APX; NZSX: APX; Amex: AEN) is pleased to announce that work on Cardiff
2AST1 is now underway. Long-lead equipment has been contracted and the
company is finalizing a contract with Parker Drilling International to secure
Rig 252 for working over the well prior to testing the K3E reservoir.
The plan is that a coiled tubing unit will be used to plug off the
perforations in the McKee sandstone. Rig 252 will then be used to pull the
existing tubing, plug the perforations in the K1A reservoir, and run a new
tubing string and packer to isolate 25m of perforated gas bearing K3E
Sandstone for testing. The workover is planned to be completed, with the well
ready for testing, by late October, with the full test scheduled to take place
Commenting on these important developments, CEO and President, Thompson
Jewell said, "We have been working hard on planning this workover and the
subsequent test to maximize the data we can obtain; we feel strongly at this
time that the K3E reservoir holds the greatest potential in this wellbore and
results from the test will contribute significantly to our understanding of
the potential of the greater Cardiff structure."
Previous results of flow testing of the McKee and K1A sands in Cardiff-
2AST1, undertaken during 2006, demonstrated sufficient commerciality to secure
a mining permit. Deep gas projects similar to Cardiff have become more common
in maturing basins in Canada, the USA and Australia where to a large extent
the technical challenges have been addressed and overcome.
Web site: http://www.austral-pacific.com/
Phone: Thom Jewell, CEO +64 (4) 495 0880
None of the Exchanges upon which Austral Pacific's securities trade have
approved or disapproved the contents hereof. This release includes certain
statements that may be deemed to be "forward-looking statements" within the
meaning of applicable legislation. Other than statements of historical fact,
all statements in this release addressing future production, reserve
potential, exploration and development activities and other contingencies are
forward-looking statements. Although management believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance, and
actual results or developments may differ materially from those in the
forward-looking statements, due to factors such as market prices, exploration
and development successes, continued availability of capital and financing,
and general economic, market, political or business conditions.
See our public filings at http://www.sedar.com and
http://www.sec.gov/edgar/searchedgar/webusers.htm for further information.
For further information:
For further information: Thom Jewell, CEO of Austral Pacific, +64 (4)
495 0880, firstname.lastname@example.org Web Site: http://www.austral-pacific.com/