Oilex happy with Cambay 3D survey

Vol 10, PW 17 (14 Dec 06) News in Brief

Oilex is encouraged by emerging results of a blanket 160-sq km 3D survey of its Cambay field, completed by Torun Geofyzika on 5th December.

Early indications of Brute Stacks from the 3D reveal several encouraging high amplitude events not yet penetrated by earlier exploration, we hear. By 17th December, PGS will begin processing the data.

PGS will deliver its initial report in five weeks, we hear, and the final report in ten weeks. On 30th November, a Cambay block Management Committee meeting including representatives from the DGH and partner GSPC (55%), agreed to wait for interpretation of the $3.2m survey before allowing operator Oilex (45%) to re-enter well Cambay-71.

Drilling at Cambay-71 was halted on 8th October at 1600 metres but Oilex wants to drill deeper to prospective Eocene objectives. By April next year Oilex wants to begin an exploration programme at Cambay that could see up to 10 exploration wells, provided it can find a rig in time.