Page 15 - AsianOil Week 23 2021

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The next phase of operations will be to
mill out the bridge plugs set between each
stage and clean out the wellbore. Flow-
back operations for all four zones will then
commence.
Extended production testing will take
place after flow-back, with samples taken to
determine gas, liquids and water yields from
each of the stimulated stages. Wireline logging
will also be carried out to assess the induced
fracture height in each stage.
This data is important for the
interpretation of each shale unit’s
KrisEnergy submits winding first Development well in the Mereenie hydrocarbon productivity and
understanding of rock properties.
Development Programme, was spudded on
up petition 3rd of June 2021 at 2145 hrs. The update Furthermore, the dataset will aid Empire’s
release is attached. Further updates will be
design and location optimisation for
KrisEnergy, an independent upstream oil and provided as the programme progresses. fracture stimulated horizontal appraisal
gas company, refers to the announcement New Zealand Oil & Gas announced drilling planned for later this year. The
dated 31 March 2021 in relation to updates on 25 May 2021 that it has agreed to horizontal drilling program will be funded
on the Apsara oil field development and acquire interests in three gas producing from existing cash at bank.
restructuring exercise; the announcement projects located in Australia’s Northern Empire will continue to update
dated 20 April 2021 in relation to further Territory from Central. The agreement is shareholders as Carpentaria-1 flow-back and
updates on the restructuring exercise; and the subject to shareholder approval, amongst extended production testing progresses in the
announcement dated 28 April 2021 in relation other conditions, and a special meeting of coming weeks.
to updates on the Apsara oil field review by shareholders to vote on the transaction is EMPIRE ENERGY, June 9, 2021
third-party petroleum engineering consultant, scheduled for 24 June 2021.1
Netherland, Sewell & Associates. “As we move towards our shareholder Jadestone provides an
Further to the Announcements, the vote, I am pleased to begin sharing news on
Company wishes to announce that the the activity at the Amadeus tenements” says update on Maari acquisition
Company is unable to pay its debts based on Andrew Jefferies CEO New Zealand Oil &
actual and/or contingent liabilities and will Gas. “These are great assets in a location Jadestone Energy, an independent oil and
proceed to liquidation, having taken into with an excellent market, and the operator is gas production company focused on the
consideration, among others, the following getting after the development opportunities Asia Pacific region, is pleased to provide an
factors: the Company’s liabilities which with sensible alacrity.” update on the planned completion of the
exceed the value of the Company’s assets; NZOG, June 4, 2021 acquisition of the 69% operated interest in
the significantly lower ultimate recovery the Maari asset, shallow water offshore New
and cashflow from the Apsara Mini Phase Empire fracks Carpentaria-1 Zealand.
1A development resulting in the Company’s The Company has continued working with
restructuring exercise being no longer well the seller, OMV New Zealand Limited (“OMV
viable; the lack of an acceptable alternative New Zealand”), to satisfy the remaining
restructuring option; and the lack of near- Empire Energy is pleased to announce the safe outstanding conditions to complete the
term infusion of fresh funds available to the and successful placement of four hydraulic acquisition, in particular the approval of New
Company. fracture stimulation stages in its Carpentaria-1 Zealand Petroleum & Minerals (“NZP&M”).
Accordingly, the Company has on 4 June well where four ‘stacked’ shale targets within While this work is continuing, the Company
2021 submitted a winding-up petition to the the Velkerri Formation are in the process of expects that completion will occur in the
Grand Court of the Cayman Islands (the being evaluated. second half of 2021.
“Winding Up Petition”). The hearing date for Carpentaria-1 is in Empire’s wholly owned In parallel with the NZP&M
the Winding Up Petition will be fixed. and operated EP187 permit located in the discussions, the Company is in
KRISENERGY, June 4, 2021 Beetaloo Sub-basin, Northern Territory. discussions with OMV New Zealand and
Vertical fracture stimulation stages were expects to extend the long stop date under
successfully placed in the A Shale, Intra A/B the Maari sale and purchase agreement,
OCEANIA Shale, B Shale and C Shale of the middle which is currently set at 30 June 2021. The
Velkerri Formation over a five-day period. Company will provide an update, once a
Central Petroleum spuds A fracture stimulation was carried out in date has been confirmed.
each target shale zone, with the amount of
The Company intends to issue updated
Mereenie development well proppant placed shown in the table below. The production guidance in due course,
proppant is placed into the induced fractures
accounting for a revised expectation on
WM27 to promote hydrocarbon flow. timing to close the Maari asset acquisition
and the positive impact of the acquisition of
Initial flow-back of fluids pumped into the
The operator of the Mereenie joint venture, C Shale commenced last night. During the the SapuraOMV Peninsular Malaysia assets
Central Petroleum Limited (ASX:CTP) very first hours of flow-back, gas was detected announced on 30 April 2021.
(“Central”) has advised that WM27, the at surface. JADESTONE ENERGY, June 9, 2021

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