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Mosaic Oil Provides Taylor 18 Update - Successful Development Well
Friday May 16, 2008, 9:14 am

Original Announcement: Taylor 18 Update - Succesful Development Well

Mosaic Oil advised that the Taylor-18 gas/condensate development well reached a total depth of 2040m on 15 May 2008 and that the wireline pressure survey has confirmed the presence of the gas/condensate column. Wireline logs and a pressure survey have been run. The wireline log interpretation has indicated that the well encountered approx 2.5m of net gas/condensate pay over an interval from 1994m to 1999m in the upper part of the Showgrounds Sandstone Formation. The Taylor-18 well will be cased and suspended with Century Rig 7. The well will be completed for production within 2 weeks by a workover rig currently operated by Mosaic Oil in the area. Taylor-18 is expected to be connected to the Taylor gathering network by as early as the end of June 2008.

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