VICTORIA PETROLEUM N.L.
A.B.N 50 008 942 827
Incorporated in Western Australia
22 April 2008
Company Announcements
ASX Limited
Level 4, 20 Bridge Street
SYDNEY NSW 2000
Cuisinier-1 starts drilling, ATP 752P, SW Queensland Cooper Basin
Victoria Petroleum N.L. (Vicpet) is pleased to announce that the first well to be drilled under the ATP
752P farmin agreement with Santos Ltd (Santos) and Avery Resources (Australia) Pty Ltd (Avery) has
commenced with the start of drilling operations at Cuisinier-1. Santos is the operator for the ATP 752P
farmin drilling and seismic program.
Cuisinier-1 commenced drilling at 2000 hours on 21 April 2008 and at 0600 hours today, Central
Standard Time was at a depth of 227 metres and drilling ahead in 10 5/8” hole.
Cuisinier-1 is planned to be drilled to a total depth of 2,513 metres in 15 days and will test a seismically
defined structure with the potential to contain an unrisked resource of up to 2.1 million barrels of oil in the
target Hutton and Doonmulla sandstones, if oil is present. Secondary target is the Namur Sandstone.
Cuisinier-1 is located approximately 6.2 kilometres west of the Santos operated Cook Oil Field.
As per the ASX release of 17 October 2007, the ATP 752P farmin earning program consists of up to 7 oil
exploration wells and a minimum of 300 square kilometres of 3D seismic data to be carried out in the
Wompi and Barta blocks which make up ATP 752P.
Vicpet will be fully carried for the 7 wells and all new seismic data acquired under the staged farm-in
arrangements and retain 15% working interest on completion of the farmin.
The farmin program also reduces Vicpet’s exploration risk and cost in its ATP 752P Cooper Basin oil
exploration program through the drilling of more exploration wells, access to large 3D programs along
with Santos expertise in all disciplines and the Santos proven track record of finding and developing
commercial discoveries in the Cooper Basin.
Commenting on the start of drilling at Cuisisnier-1, Victoria Petroleum managing director John
Kopcheff said:
“Vicpet is very pleased that drilling operations have started with Cuisinier-1 as the first well in the ATP
752P farmin drilling program with Santos and Avery.”
“With Santos as the operator, Vicpet can see significant advantages both technically and logistically with
the permit and associated exploration drilling being part of the Santos operations in the Cook Oil Field
area. Vicpet can see these advantages carrying through to the development and early production of oil
from any discoveries made. In the event of exploration success at Cuisinier-1, we would expect to see
the well connected to the Santos operated Cook Oil Field, approximately 6 kilometres to the east of
Cuisinier-1.”
36TH FLOOR, EXCHANGE PLAZA, 2 THE ESPLANADE, PERTH, WESTERN AUSTRALIA 6000
TELEPHONE: (08) 9220 9800, FACSIMILE: (08) 9220 9801, EMAIL: [email protected] WEBSITE: www.vicpet.com.au
CORRESPONDENCE TO PO BOX Z5441, ST GEORGES TERRACE, PERTH, WESTERN AUSTRALIA 6831
“The drilling program of up to 7 wells set out in the farmin agreement is part of Vicpet’s strategy of being
a major explorer in the Cooper/Eromanga Basin in South Australia and Queensland.”
This drilling complements Vicpet’s exploration and drilling program in South Australia in PEL 115 and the
PEL 104 /111 Western Margin Oil Project where the Growler Oil Field has just commenced oil production
against a background of current high oil prices.”
“The experience gained in ATP 752P will be of value to Vicpet in its development as the operator of a
similar style “Cooper Oil Project” for the “Jurassic Oil Fairway” being explored and developed in Vicpet’s
Cooper Basin Western Margin Oil Project permits in South Australia.”
JOHN KOPCHEFF
MANAGING DIRECTOR
VICTORIA PETROLEUM N.L.
Information in this report was completed by the Managing Director of Victoria Petroleum N.L, J T Kopcheff BSc
(Hons Eco.Geol), FAIMM, MAAPG, MSPE, MPES, with 36 years experience in petroleum geology and geophysics.
For information on Victoria Petroleum N. L. drilling activities visit our website at
www.vicpet.com.au
36TH FLOOR, EXCHANGE PLAZA, 2 THE ESPLANADE, PERTH, WESTERN AUSTRALIA 6000
TELEPHONE: (08) 9220 9800, FACSIMILE: (08) 9220 9801, EMAIL: [email protected] WEBSITE: www.vicpet.com.au
CORRESPONDENCE TO PO BOX Z5441, ST GEORGES TERRACE, PERTH, WESTERN AUSTRALIA 6831