Triangle Power: oil discovery at Xanadu-1 verified
Wireline logs over a 330m area confirm reservoir high quality sand periods throughout the Irwin River Coal Actions (IRCM) with porosities ranging from 15% to 16%. 3 distinct sand intervals (A, B, C) at top of IRCM have log-derived hydrocarbon saturations between 41-66% with 4.6 m of take-home pay in sand "A". Fluorescence in rock cuttings observed while boring and also log-derived hydrocarbon saturations persist for 120m in sands listed below these upper zones.Further evaluation of oil samples gotten from Xanadu-1 expected to confirm Cliff Head analogue with oil assay results expected by end of the week.Plans underway for up-dip side-track appraisal well from casing shoe which can possibly be completed as an industrial producer.Norwest Power to lodge Exploration Notice with Minister of Mines Preacher of Mines, Industry, Regulation and Safety in behalf of joint endeavor companions Triangle Energy (Global) Ltd, Whitebark Energy Ltd and 3C Group IC Ltd
. Triangular Power (Global) Limited has verified an oil discovery at Xanadu-1 as well as provide an upgrade on development as well as results from the expedition well.
drag-reducing agents , Triangular Power's handling director, said the Xanadu-1 well result and confirmation of discovery was a terrific result for the Company as well as its investors.
" Verifying a brand-new oil discovery at Xanadu is an impressive success. There hasn't been an oil exploration in the offshore Perth Container given that Cliff Head over 15 years back. It's interesting for the sector as well as for Western Australia.
" Based on the existing understanding of the framework there is an excellent opportunity of discovering a substantially thicker column in an up-dip area which can be gotten to from the current boring pad.
" Xanadu lies 14 km south eastern of Triangle's High cliff Head Oil Field and the onshore Arrowsmith Stabilisation Plant (ASP). Arrowsmith has the capability to solution 3rd party crude and therefore can expedite any type of manufacturing from Xanadu to market."
Mr Darren Bromley, Triangular Energy's executive director as well as CFO, claimed access to the Arrowsmith infrastructure will considerably reduce the capital expenditure called for by the JV and is currently underutilised.
"Present production from High cliff Head uses just 1200 bpd with a plant ability of 15 000 bpd.
"Triangular expects dealing with the TP/15 Joint Endeavor to fast-track this amazing opportunity as quickly as feasible," Mr Bromley said.
. Triangular Power (Global) Limited has verified an oil discovery at Xanadu-1 as well as provide an upgrade on development as well as results from the expedition well.
drag-reducing agents , Triangular Power's handling director, said the Xanadu-1 well result and confirmation of discovery was a terrific result for the Company as well as its investors.
" Verifying a brand-new oil discovery at Xanadu is an impressive success. There hasn't been an oil exploration in the offshore Perth Container given that Cliff Head over 15 years back. It's interesting for the sector as well as for Western Australia.
" Based on the existing understanding of the framework there is an excellent opportunity of discovering a substantially thicker column in an up-dip area which can be gotten to from the current boring pad.
" Xanadu lies 14 km south eastern of Triangle's High cliff Head Oil Field and the onshore Arrowsmith Stabilisation Plant (ASP). Arrowsmith has the capability to solution 3rd party crude and therefore can expedite any type of manufacturing from Xanadu to market."
Mr Darren Bromley, Triangular Energy's executive director as well as CFO, claimed access to the Arrowsmith infrastructure will considerably reduce the capital expenditure called for by the JV and is currently underutilised.
"Present production from High cliff Head uses just 1200 bpd with a plant ability of 15 000 bpd.
"Triangular expects dealing with the TP/15 Joint Endeavor to fast-track this amazing opportunity as quickly as feasible," Mr Bromley said.
