Tuesday, December 2, 2008

Libra signs good, says Nexus

Nexus Energy said the Libra-1 exploration well had struck more than 180 gross metres of gas pay in several thick sand packages on Browse basin exploration permit AC/P41 off Western Australia.

Nexus said the results were based on logging-while-drilling data and observed gas shows, The well was sunk to total depth of 3918 metres. The company said further wireline logging and pressure data was required to confirm the height of the column and establish the hydrocarbon composition and reservoir quality of the find. The well is being drilled by the semi-submersible rig Ocean Epoch, operated by Shell with a 65% stake on behalf of AC/P41 joint venture partners Mitsui E&P (20%) and Nexus Energy (15%). The Libra structure lies immediately south of Nexus’s Crux liquids field on AC/P23.
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