OIL

Juniper results could lead to major reserves upgrade

INNAMINCKA Petroleum claims core results from its latest drilling indicate the Juniper oil field ...

Three 18-metre cores recovered from the target basal Patchawarra and top Tirrawarra Sandstone interval revealed strong oil shows.

"The core data supports geological correlation of this interval with the oil-bearing section in

the Juniper 1 well," the company sid in a statement.

"This interpretation would extend the height of the known oil column from approximately 40 metres to in excess of 120 metres and would increase the field area from 8 square kilometres about 30 square kilometres."

The Juniper-2 well is a downflank appraisal well 1.9 km north-west of the Juniper1 discovery well in PEL 103.

Participants in the PEL 103 joint venture are Innamincka Petroleum Limited (operator) 35% and Vernon E Faulconer Australia Inc 65%.

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