🕐21.05.10 - 02:46 Uhr

Mosaic Oil [ASX: MOS] - Commencement of Fracture Stimulation of Churchie-1 well



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Mosaic Oil [ASX: MOS] - Commencement of Fracture Stimulation of Churchie-1 well

Australian oil and gas producer, Mosaic Oil NL (ASX: MOS) announces that all equipment has arrived on site and the company is in the final stages of preparation for the Massive Hydraulic Fracture stimulation (�frac�) of the Churchie-1 well, located within the Churchie Field, PL 192, Surat-Bowen Basin, Queensland.

The frac is scheduled to take place within the next 48 hours, and results will be evaluated over the next two weeks.

�Mosaic has commissioned a substantial amount of core work, fluid trials and frac design work over the last few months,� said Alex Parks, Mosaic CEO.

�The operation is now ready to commence and we will advise on its outcome once we have evaluated the frac geometry and the flow, pressure and tracer data.�

The Churchie-1 frac is the first of what will potentially be a wider program aimed at enhancing gas flows from the Churchie Field and other tight reservoirs in the Surat-Bowen Basin.

It comes after months of analysis to refine the frac fluid design and tailor the fluid to the conditions of Mosaic�s reservoirs.



The Churchie-1 frac has been designed to propagate and extend a substantial fracture within the Tinowon sand formation, some 250 metres either side of the wellbore.

If the fracture propagates as planned, initial stabilised gas flow rates will increase from pre-fracture rates of less than 0.5MMscf/day to post-fracture rates of more than 1.5 MMscf/day.

The field trial is a crucial stage in the process.

If successful, the application of the fracture stimulation should lead to significant increase in Mosaic�s total rates of production over the coming years.

Mosaic will release an update on the operation next week.

For further information, please contact:

Investor Relations:
Sally Highducheck, Mosaic Oil
+61 2 9247 9324


Media:
Bill Kemmery, Fortbridge
+61 400 122 449


Steve Rotherham, Fortbridge
+61 421 488 320



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