Victoria Petroleum N.L. (“Vicpet”) as operator for the Growler Oilfield Development Project reports that oil production has commenced from the Growler Oil Field. The start of production is significant as this is the first oil produced from PEL 104 located on the north western margin of the Cooper-Eromanga Basin.
Both Growler wells were opened to natural flow on 12 March and were flowing at a combined rate of 100 BOPD. Artificial Lift production pumps will be installed over the next few days and once this work has been done the production rate is expected to reach 300 barrels of oil per day.
Oil Production from the Growler Oil Field will be stored in the onsite horizontal storage tanks and then tankered by truck down the Growler - Welcome Lake road constructed by the PEL 104 JV and then onto Moomba for delivery by the Santos liquids pipeline to Port Bonython.
As earlier advised widespread flooding has affected parts of Queensland during the last month. Much of this water is travelling down Cooper Creek and will reach the project area in approximately five weeks time.
The course of the flooding in the Cooper Creek has slowed during the last two weeks and the main floodwaters have not yet reached Innamincka. If the flooding does reach the Growler area it will not be until April and it is doubtful at this stage if the Growler area will be affected, or whether the road will be cut at Lotteries Waterhole.
Growler Extended Production Test (EPT)
Based upon well data, initial gross production rates of 300 BOPD from the two Growler wells is expected during the EPT period.
Information from our external consultants indicate the Growler Oilfield on its own, at a confidence level of P50, contains 7.7 million barrels of oil in place, with an expected recovery of 1.6 million barrels.
On confirmation from the EPT of the field’s productivity in the first quarter of 2008, the PEL 104 Joint Venture, as a priority, will concentrate on the first phase of the Growler Field Development by drilling further wells and developing facilities with the expectation of achieving production levels of up to 750 BOPD.
The Growler Oil Field will serve as a central production facility for future production from the Wirraway Oil Field and in the event of exploration success, any oil discovered in the Warhawk Prospect, when drilled.
The Growler Oil Field is an important part of the Cooper Basin Western Margin Jurassic Oil Project and Vicpet’s strategic position in the Cooper Basin of South Australia and Queensland.