Bengal Energy cases Caracal-1 well as potential future oil producer in Australia's Cooper Basin

11/6/2012

Bengal Energy cases Caracal-1 well as potential future oil producer in Australia's Cooper Basin

CALGARY -- Bengal Energy's first exploration well in the company's Tookoonooka drilling campaign, Caracal-1, has been cased, pending perforation and testing to confirm the prospectivity of this well as a future oil producer in Australia's Cooper Basin.

The Caracal-1 well encountered developed sandstone at the Cretaceous Wyandra level. An 18-m core was cut over the Wyandra section with preliminary petrophysical analysis indicating a total of 9.2 m of porous sandstone with an average 18% porosity.

The well shows sufficient promise to be cased and perforating and testing operations to confirm fluid type and inflow will commence in late November 2012. The 100% owned Bengal 1 Rig, which was used to drill the Caracal-1 well, will conduct the perforating and testing operations. Caracal-1 is located approximately 40 km southeast of the producing Ipundu, Tarbat oil fields which have produced to date in excess of 3.3 mb from the Wyandra, Murta interval.

"We are pleased with this potential discovery on our first exploration well on our operated, 100% Bengal WI Tookoonooka Permit," said Chayan Chakrabarty, President and CEO of Bengal. "Should the Caracal-1 well yield encouraging results upon testing, we see the potential for significant Wyandra light oil development on the Caracal structure."

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