COMPOSITIONAL DATA : GAS : GAS PROPERTIES Puffin Fm RFT ...

Production Test,Challis FormationPerforated between 1,506-1,530 m and1,533-1,540 m. Flowed oil at maximum rateof 4,981 bbls/day and gas at 104,770 m 3 /day,declining to 4,123 bbls/day and108,170 m 3 /day, respectively, at 560 psig.RFT 1, 1,522.5 m,Recovered 7.8 litres of gassy, 51.2 o APIoil, 0.93 m 3 of gas and 11.7 litres of water.RFT 2, 1,539 m,Recovered 13.5 litres of oil, 0.77 m 3 ofgas and 5 litres of water.Challis FormationChallis FormationAPPRAISAL AND DEVELOPMENT DRILLING :Talbot-2, located 1.3 km west-southwest of Talbot-1, was drilled to determine reservoir quality,delineate reserves and provide a possible drainage point for the field. A 39.5 m gross hydrocarboncolumn (16.9 m net pay) was intersected at the top of the Challis Formation. This zone flowed oil on testat rates of up to 4,992 bbls/day. The well was cased and suspended as a possible future producer.RESERVES:Oil:2 to 5 MMbblsSource: Northern Territory Department of Business Industry and Resource Development,1999.REMARKS :Geochemical analysis indicates that the hydrocarbons reservoired at Talbot have probably not beensourced in situ but have migrated from the Skua Trough over distances of up to 20 km.At date of publication, the Talbot discovery was held under Retention Lease AC/RL1.COMPOSITIONAL DATA :OIL :FLUIDPROPERTIESOilChallis FmRFT-1API Gravity @ 60°F 49.0Asphaltenes (wt%) 0.02Wax content (wt%) 0.00Pour Point ( o C) -9Cloud Point ( o C) -16Flash Point ( o C) -18Specific Gravity 0.7477Viscosity (cp@100°F) 0.975