Stuart Petroleum Limited says that the first flow from the Worrior 7 well produced oil at the rate of 2300 barrels / day from the McKinlay Member of the Namur Sandstone. This flow rate was measured over a 5 hour period prior to the well being shut in as a producer. Additional oil pay intersected in the underlying Birkhead Formation will be tested after an initial production run from the McKinlay Member. Stuart owns a 70% interest in, and is Operator of, the Worrior Oilfield.

No significant hydrocarbons were encountered in the drilling of exploration well Kerinna 2 on Stuart's 100% owned Petroleum Exploration Licence 516 and the well will be plugged and abandoned.

As soon as local roads are passable, Stuart will drill oil development well Acrasia 5 on Petroleum Production Licence 203 (Stuart 75% interest and Operator). Recent rain has left many Cooper Basin roads impassable for the present and Stuart expects to spud Acrasia 5 late this month.

Acrasia 5 is a low risk well which will be drilled to add to Stuart's reserves and to increase its rate of oil production.

Tags: Stuart Petroleum Limited