News

January 27, 2009

ASX Listed Aurora Oil & Gas Gives A Positive Update On Its Highly Prospective Acreage On The Sugarkane Gas And Condensate Field In Texas, USA

A number of small cap E &P oil and gas companies familiar to readers of oilbarrel.com and including Empyrean Energy from London’s AIM market and ASX quoted Aurora Oil & Gas, have staked out a position in what looks like an exciting and substantial prospect in the form of the recently discovered Sugarkane Gas and Condensate Field, Texas. This could provide them with an opportunity to share in a potential multi trillion cubic feet equivalent (tcfe) gas and condensate resource.

The Sugarkane Field was discovered with the Kunde-1 well which started producing in September 2006 and is a unique Austin Chalk formation that lies some 20 km south of the main Texas Austin Chalk trend. In the early stages of appraisal the field is exhibiting many characteristics that are superior to the classic Austin Chalk fields such as the nearby Giddings and Pearsall fields that have produced over 5 tcf of gas and 600 million barrels of oil. Notably, the Sugarkane field is over pressured,...