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Triangle finds oil in Xanadu-1

Written by  AOG Staff Saturday, 28 October 2017 19:42
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Triangle Energy said the first phase analysis of the oil recovered from Xanadu-1 offshore in the Perth basin indicated good oil quality and similar to that produced at Triangle’s Cliff Head oil field.

“Good quality oil as evidenced in these initial results from Xanadu-1 is more attractive to refineries and is more likely to achieve a higher oil price, whereas poor quality oil tends to achieve lower prices at the refinery,” said managing director Rob Towner.

“In addition, the Xanadu-1 oil analysis indicates that it is very similar to that at Cliff Head and therefore will be able to be processed at Triangle’s onshore Arrowsmith stabilization plant, expediting any production to market.”

Towner added that the similarities between the Xanadu and Cliff Head crude analysis also suggest that the oil in both fields has probably migrated from the same source. If true, this increases the likelihood that other structures within the area of Cliff Head and Xanadu may also be trapped with oil.”

“Key initial findings indicate that in addition to the potential of the up-dip structure previously announced, there is now evidence that oil volumes are also present further downdip from Xanadu-1.”

The first phase analysis of the oil recovered from Xanadu-1 samples has now been completed with the initial analyses showing a yield of 34.7o API crude oil with no H2S and extremely low levels of CO2 (0.02%).

Following the results of the first phase analysis of Xanadu-1 data, Norwest Energy commenced integrating all available data to estimate the range of total crude oil in the Xanadu structure.

Key initial findings indicate that in addition to the potential of the up-dip structure previously announced, there is now evidence that oil volumes are also present further downdip from Xanadu-1.

Image: Map of Xanadu 1

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