DRILLING

Novus finds more than expected in Louisiana well

Novus Petroleum has intersected a larger than expected gas pay at the NUL 13-1 well in Sorrento Dome, Louisiana. The company was hopeful their 100% owned-well would flow in the range of 5 million cubic feet per day (mmcfd).

The primary target, the Planulina upper lobe, was intersected as prognosed at 3,008m with electric logs confirming the presence of 15.2m of gas pay. Novus said this "was somewhat in excess of predrill expectations."

The well was spudded on 11 April and will drill ahead a further 61-91m to test secondary targets, including the Planulina lower lobe.

The Planulina upper lobe zone will be completed for production once total depth has been reached but is dependent on the results of the remaining drilling, as any gas pay encountered deeper in the well may be produced first.

However, one way or another, it is expected that the well completion and tie-in to the local gas infrastructure will enable first gas sales to take place by October this year.

Novus said potential flow rates will not be established until the well is in production.

Novus' partners can back into the well after Novus recovers its drilling, completion and facility costs which would reduce Novus working interest to 86.4%.

Novus acquired its interest in the Sorrento acreage in 2002 from Darcy Energy, Ltd.

The prospect is located onshore Louisiana in the Sorrento Dome Field, approximately 30 miles northwest of New Orleans, Louisiana, USA.

Dr Bob Williams, CEO of Novus Petroleum, said, "At this stage it will not be possible to determine the flow rate from the Planulina upper lobe, although an offset well flowed at 5 mmcfd, so a similar flow rate could be anticipated. To put the contribution from this well into context, our valuable Stratton field produces around 8 mmcfd net to Novus.

"Of course, the NUL13 accumulation does not have the volume or longevity of the Stratton field although we are confident of having contracted reserves well within the pre-drilling range of 7-12 bcf. Formal reserves estimates will not be made until a few months of production history is available from the well."

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