SEDAR Filing location of e-11 *****
Sedar Filing. Filed today!
Correct location on this filing [see bold text] - different than news release SE-SW!!!
Reflector et al - please comment on this significant variation in location.
TIA.
FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1. Name and Address of Company
Oilexco Incorporated
Suite 3200, 715-5th Avenue S.W.
Calgary, Alberta T2P 2X6
Item 2. Date of Material Change
October 12, 2004.
Item 3. News Release
The news release reporting the material change was released by Oilexco
Incorporated on
October 12, 2004.
Item 4. Summary of Material Change
Oilexco Incorporated (“Oilexco”) announced that oil has been intersected in
Oilexco’s
100% owned well 15/25e-11. The oil/water contact intersected by 15/25e-11 is at
a higher elevation than that intersected in the Oilexco 15/25b-10 well located 1.5
kilometers to the southeast.
Item 5. Full Description of Material Change
Oilexco Incorporated announced that oil has been intersected in Oilexco’s 100%
owned well 15/25e-11. The oil/water contact intersected by 15/25e-11 is at a
higher elevation than that intersected in the Oilexco 15/25b-10 well located 1.5
kilometers to the southeast. This difference in elevation suggests the 15/
25e-11 “well cluster” is evaluating a new oil accumulation, separate from the
“Brenda West” oil accumulation currently defined by the Oilexco wells 15/25b-9
and 15/25b-10. Currently the 15/25e-11 well-bore is being plugged back to a
point where drilling will commence on the second well-bore of the “well cluster”,
15/25e-11Z. The bottom-hole location of 15/25e-11Z is targeted to be 1.25
kilometers west of the 15/25e-11 bottom-hole location.
Following the drilling and logging of the 15/25e-11Z well-bore, drilling operations
will commence on the third well-bore of the “well cluster” 15/25e-11Y. This well-
bore, targeting a location 1.0 km northwest of the current 15/25e-11 will be tested
after drilling and logging operations are completed, as this well-bore is being
drilled as a standard sized hole (12.25 inches), verses the slim holes (8.5 inches) of
the first two well-bores of the “well cluster”.
Oilexco Incorporated operates in the UK North Sea through its wholly owned
subsidiary, Oilexco North Sea Limited. Oilexco’s current focus in the UK North Sea
is on the following 100% owned Blocks: Block 15/25b, a 20th Round award, and
Block 15/25e, an August 2004 Out of Round award. Block’s 15/25b and 15/25e
are located in the Outer Moray Firth of the UK Central North Sea, 120 kilometers
northeast of Aberdeen.
