19 June 2008
Innamincka Petroleum drilling program completed – approaches
production
Innamincka Petroleum today announced it anticipates oil production to commence from the Flax field in
July, initially from the Flax 1 well followed by Flax 3, Flax 4 and Flax 2.
Starting in July, Flax 5, Flax 6, Flax 7 and Flax East 1 will be fracture stimulated. These wells will be
progressively tied into the field facilities as production wells.
Gas injection is planned to commence in the August/September period, following installation of the field
compressor.
Roadworks and earthworks associated with the Flax processing facility are nearing completion.
Facilities design has been completed and most equipment has been received. The oil and gas
separator and the oil storage tanks have been installed and the load-out facilities for road tanker
loading are currently being constructed.
Regulatory approvals have been received from PIRSA and other relevant authorities for the installation
of the Flax processing and storage facilities and the infield pipeline system. Operational approval from
PIRSA is anticipated shortly.
Further to yesterday’s announcement to the ASX, the Company advised that its drilling program had
been completed on schedule. All five wells, including three wells in the northern part of the Flax oilfield,
were successful and were cased, ready for future production.
Innamincka Petroleum Chairman, Mr Adam Johnson said: “We are pleased that our drilling program
has been completed on schedule and our field teams have done a marvelous job with ensuring we are
on track to becoming an oil producer in the third quarter of this year.”
Innamincka Petroleum Ltd – INP – is involved in the exploration and development in the Cooper Basin.
It holds an interest in exploration permits which encompass approximately 4400 square kilometres.
The Cooper Basin is one of Australia’s richest proven oil and gas fields containing over 70 oil and 150
gas fields with over 300 producing oil wells and over 600 producing gas wells.
Since listing, Innamincka has discovered two oilfields and three gas fields and has been voted Best
Australian Explorer 2007.
ENDS
For further information or to arrange an interview contact:
Mel Deacon, Prodigy Plus
(07) 3229 7500 / 0418 814 782
mel@prodigyplus.com
Media release
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