Oilex has advised that preparations for the Al Jumd-1 testing program in Oman's Block 56 are being finalized and operations are planned to commence on February 26, with the initial flow period planned to be completed around March 6-8.

The Al Jumd-1 exploration well (spudded December 1) discovered oil in the Al Khlata Formation over the interval 1163-1328 meters Measured Depth with no oil-water contact identified. The well was suspended for further evaluation. Following in depth analysis of the oil zone using all available well data, 5 zones totaling 46.5 meters were selected for perforation and flow testing. A down hole pump will be run to maximise the recovery rate in the event that heavier crude oil is present.

Participants in the Block 56 Exploration and Production Sharing Agreement are:

Joint Venture Party Participating Interest Oilex Oman Limited (Operator) 25% Videocon Industries Limited 25% GAIL (India) Limited 25% Hindustan Petroleum Corporation Limited 12.5% Bharat PetroResources Limited 12.5%

Tags: Oilex