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Bengal Energy Reports On Tookoonooka Drilling Campaign - Caracal-1 Cased As Potential Future Oil Producer, Cooper Basin, Australia
CALGARY, Nov. 5, 2012 /CNW/ - Bengal Energy (TSX: BNG) ("Bengal" or "the Company") is ple...
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Nov. 5, 2012 /CNW/ - Bengal Energy (TSX: BNG) (\"Bengal\" or \"the Company\") is pleased to report that the first\n exploration well in the Company's Tookoonooka drilling campaign,\n Caracal-1, has been cased pending perforation and testing to confirm\n the prospectivity of this well as a future oil producer. Bengal\n operates and is the 100% working interest owner of the 654,335 acre\n permit Authority to Prospect 732P (the \"Tookoonooka Permit\"), located\n in the Cooper Basin, Queensland, Australia, on which the Caracal-1 well\n is located. The Caracal-1 well encountered a developed sandstone at the\n Cretaceous Wyandra level. An 18 metre core was cut over the Wyandra\n section with preliminary petrophysical analysis indicating a total of\n 9.2 metres of porous sandstone with an average of 18% porosity. The\n Company advises that the core, the samples and the subsequently taken\n sidewall cores all have positive indications of hydrocarbons; yet these\n indications are not uniform across the entire interval. The Company\n notes that drilling fluid invasion, which occurred during the coring\n operation, may have adversely affected the resistivity logging\n response, as such response is inconsistent with similar data from other\n Wyandra producers in offset producing fields. Formation fluids will\n need to be produced from the Caracal-1 well prior to making a final\n determination of the status of this well.\n\n\nThe well shows sufficient promise to be cased and perforating and\n testing operations to confirm fluid type and inflow will commence in\n late November 2012. The 100% owned Bengal 1 Rig, which was used to\n drill the Caracal-1 well, will conduct the perforating and testing\n operations. Caracal-1 is located approximately 40 kilometres southeast\n of the producing Ipundu/Tarbat oil fields which have produced to date\n in excess of 3.3 million barrels from the Wyandra/Murta interval.\n\n\n\"We are pleased with this potential discovery on our first exploration\n well on our operated, 100% Bengal WI Tookoonooka Permit,\" said Chayan\n Chakrabarty, President and CEO of Bengal. \"We are especially pleased\n that the potential discovery was made by our Company-owned rig. Should\n the Caracal-1 well yield encouraging results upon testing, we see the\n potential for significant Wyandra light oil development...