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Bengal Energy Confirms Caracal-1 as a New Oil Discovery on the Tookoonooka Block, Cooper Basin, Australia
CALGARY, Nov. 21, 2012 /CNW/ - Bengal Energy (TSX: BNG) ("Bengal", or "the Company") repo...
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Nov. 21, 2012 /CNW/ - Bengal Energy (TSX: BNG) (\"Bengal\", or \"the Company\") reports that the first exploration well in\n the Tookoonooka drilling campaign, Caracal-1, is a new oil discovery. \n This new discovery has established light oil on a new and unexplored\n trend with the Caracal-1 well being the first well to be drilled on the\n very large 654,335 acre Authority to Prospect (\"ATP\") 732 (the\n \"Tookoonooka Block\") in the last 15 years. Seismic mapping defines a\n large structure, with the Caracal-1 closure alone estimated to cover an\n area of 5.5 square miles (approximately 3,500 acres).\n\n\nThe well was drilled as a vertical well and after being perforated,\n recovered free oil on swab testing commingled across two different\n sands in the Wyandra formation. Analysis of the down-hole pressure data\n collected during the production testing has commenced and will be used\n in conjunction with the final core analysis results to provide further\n definition of the reservoir characteristics encountered by Caracal-1.\n Preliminary core analysis suggests that the Wyandra permeability at\n Caracal-1 is similar to that seen in the Viking and Cardium plays in\n the Western Canadian Sedimentary Basin. These plays are now being\n exploited using horizontal wells and multi-stage fracture stimulation\n technology. Engineering and geological work is planned by Bengal to\n determine how similar horizontal multi-stage fracturing could be\n applied at Caracal.\n\n\nOffset pool analogies from the Wyandra zone show oil accumulations which\n exhibit stratigraphic variability across the accumulation, with\n variations in permeability and therefore productivity. Additional\n geoscience analysis incorporating existing 3D seismic and data acquired\n from the Caracal-1 well will allow for high grading of future drill\n locations targeting areas of thicker and more permeable sand\n development within the structure. This planning will also incorporate a\n design for potential fracture stimulation and/or horizontal drilling\n programs.\n\n\nCaracal-1 is located approximately 40 kilometers southeast of the\n producing Ipundu/Tarbat oil fields which have produced to date in\n excess of 3.5 million barrels from the Wyandra/Murta interval.\n Caracal-1 was drilled, completed and tested utilizing the 100% owned\n Bengal...