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FINANCE VIDEO: Oil Basins Ltd (ASX:OBL) CEO Neil Doyle Presents Strategic Hydrocarbon Assets to the Capital Markets in Sydney.

Sydney, Australia, Aug 11, 2011 - (ABN Newswire) - Oil Basins Limited (ASX:OBL) Director and Chief Executive Officer Neil Doyle presents Strategic Hydrocarbon Assets to the capital markets in Sydney. Neil Doyle is an energy specialist with both significant upstream and investment banking experience in the sector.

Neil is a qualified engineer with post-graduate qualifications in geomechanics (Monash University) with significant operations experience covering both the upstream (onshore and offshore) oil and gas sector notably with BHP Petroleum & Esso Exploration and Production Australia and also in the downstream refining products / LPG sector with Shell Australia. Subsequently, he has held senior management roles at commercial, technical and business development levels with a number of diversified resources groups and investment banks - specialising in energy related merger and acquisition and capital raising transactions.

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Canning Basin - Blina Back Reef Play Joint Venture Area


The largest nearby structure in the immediate region is the Blina oilfield which was the first commercial oil discovery in the Canning Basin. Its discovery in 1981 led to a mini exploration boom in the basin. The Blina field is located in onshore Production Licence L6 in the Canning Basin, 105 kilometres east-southeast of Derby. The field was discovered in May 1981, by Home Oil Australia with the drilling of Blina 1, which intersected two distinct reservoirs, namely the Upper Devonian (Famennian) Nullara Limestone Formation (Nullar Oil Pool) and the Lower Carboniferous dolomitic Yellow Drum Formation (Yellow Drum Oil Pool). The development of vugs in these carbonate reservoirs has resulted in excellent permeability. A drill-stem test of the Nullara Limestone produced 35.7degree API (American Petroleum Institute) oil at a rate of 144 kL/d (905 bbl/d) through a 12.7 mm (1/2") choke. A drillstem test of the Yellow Drum Formation produced 36.7DEG API oil at a rate of 5.7 kL/d (36 bbl/d). A total of eight wells have now been drilled in the field, four of which produced from the Nullara Limestone (1, 2, 3 and 5) and two from the Yellow Drum Formation (4 and 6). The other two wells did not intersect reservoirs. Blina 4 was subsequently re-completed and produced from the Nullara Limestone.


Oil Basins Limited

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Publication:ABN Newswire
Geographic Code:8AUST
Date:Aug 11, 2011
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