COMPOSITIONAL DATA : GAS : GAS PROPERTIES Puffin Fm RFT ...

TEST DATA FROM THE DISCOVERY WELL (Montara-1):DST 1, 2,641.6-2,648.6 m, Montara FormationFlowed 35.5 o API oil at 496 bbls/day andgas at 6,654 m 3 /day at 250 psig.DST 2, 2,628-2,633 m,Flowed 36.2 o API oil at 4,285 bbls/day andgas at 438,373 m 3 /day at 321 psig througha 2” choke.Montara FormationAPPRAISAL AND DEVELOPMENT DRILLING :Montara-2 was drilled 1.3 km southwest of Montara-1. A 15 m gross oil column was intersectedbetween 2,614.5 mSS and 2,629.5 mSS. The upper 7 m of the column is thought to be moveable oilwhile the lower 8 m is considered to be a residual oil column. The residual oil zone has an averageporosity of 23% and an average water saturation (S w ) of 63%. In Montara-2, the oil/water contact wasplaced at 2,621.5 mSS.RESERVES:Oil:Gas:23 MMbbls (includes Bilyara and Tahbilk)105 BCF (includes Bilyara and Tahbilk)Source: Northern Territory Department of Business Industry and Resource Development,1999.REMARKS:At date of publication, the Montara discovery was held under Retention Lease AC/RL3.COMPOSITIONAL DATA :GAS :GASPROPERTIESLower Vulcan FmDST 2, 2628-2633 mMethane 82.60Ethane 6.60Propane 2.26Isobutane 0.29N-butane 0.45Isopentane 0.11N-pentane 0.08Hexanes 0.06Heptanes + 0.12Nitrogen 0.07CO 2 7.36H 2 S 0.00Specific Gravity 0.698