DRILLING

Location likely to make Nutmeg/Paranta commercial

Great Artesian Oil & Gas has continued to the next phase of its Cooper Basin program with production testing scheduled for both the Nutmeg-1 and Paranta-1 wells in the next few weeks.

Location likely to make Nutmeg/Paranta commercial

Production tubing is currently being run inside the production casing of Nutmeg-1 and testing will commence later this week. Three sandstone intervals of the Lower Patchawarra Formation will be tested and one interval of the Epsilon Formation.

The testing will provide data on the content, composition, reservoir properties and the deliverability of interpreted hydrocarbon bearing zones.

Immediately following the Nutmeg-1 test the rig will move to the Paranta-1 gas and condensate discovery about six kilometers away where it will run tests on interpreted hydrocarbon bearing intervals within the Patchawarra Formation.

Although flow rates will not be known until tests are completed the company believes that the close proximity of the wells to the Santos operated gas pipeline would make even moderate flow rates commercial.

Great Artesian holds a 100% interest in PEL 106 which contains both wells in the South Australian Cooper Basin.

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