DRILLING

Anzoil re-boots Utopia well

In an effort to give production a boost, Anzoil has re-perforate the Utopia No. 3 well, one of three producing oilwells in the Utopia oilfield. The workover involved the addition of 13.6m of perforations in the Murta formation to access oil bearing intervals not accessed by the original perforations.

The effort appears to have worked for Anzoil as initial pump testing has indicated a production rate of 160 barrels of fluid per day. A stabilised oil and water rate is expected to be achieved in the next few days after removal of completion fluid from the well.

Anzoil only recently acquired a 45% interest in the Utopia oilfield on the 30th April 2003. The field is located in ATP560P in South West Queensland and produces oil from the Murta formation. Production has averaged 45 bopd during 2003. AZL has estimated the field contains proved and probable reserves of 0.56 million barrels, net to Anzoil.

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