🕐13.05.09 - 05:10 Uhr

Mosaic Oil [ASX: MOS] - Weekly operations update



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Mosaic Oil [ASX: MOS] - Weekly operations update

Mosaic Oil NL (ASX: MOS) advises that the Churchie-11 gas/condensate development
well (PL 192, Surat-Bowen Basin, Qld, MOS-100%) was spudded at 16:00 hours on 8th May.

The 12-1/4� surface hole was drilled to 228 metres and the 9-5/8� surface casing string was set and cemented.

At 06:00 hours on 13 May 2009, the well was at a depth of 1305 metres and drilling ahead.

It is anticipated, on a trouble free basis, to take 17 days to drill and evaluate the well, which has a planned total depth of 2192 m KB.

Churchie-11 will target mean recoverable reserves of 3.5 BCF of gas.

The P10 recoverable reserves are estimated at 8.6 BCF of gas.

The Churchie-11 well location is approximately 700 metres from the Churchie Plant ensuring that it can be connected quickly for production if successful.

For further information, please contact:

Mosaic Oil: Tim Petersen - Acting Chief Executive Officer on 02 9247 9324
Media: Bill Kemmery � Fortbridge on (02) 9331 0655, mob 0400 122 449, email


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