OIL

Amadeus strikes oil in first well on new lease

AMADEUS Energy has struck oil during the first leg of its drilling program on the Ford East proje...

The Red Bluff 16-2 exploration well (in which Amadeus holds 81% interest) encountered oil on August 5 at a target depth of 930 metres.

Red Bluff is the first of five wells to be drilled back-to-back since Amadeus acquired the project area in July.

The Perth-based company has also reported continued success at its Raccoon Bend field, also in Texas, with the RW Thompson-34 exploration well encountering 4.2 metres of net pay in the Wilson 'channel' and the Gutowsky 'A' sands.

RW Thompson is the eighth successful well out of 12 to be drilled at Raccoon to date. Amadeus' interest is 60.5%.

Preliminary sidewall core analysis indicates that both zones will be oil productive.

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