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ASX Media Release
13 February 2008
DVM International acquires equity in West Australian
Oil and Gas Projects
New oil and gas exploration company DVM International Ltd (DVM) announced
today a deal that wil l result in it participating in two onshore exploration wells in
Western Australia within three months.
DVM has farmed into three petroleum exploration permits in the prospective
Carnarvon Basin north of Perth in a deal involving Empire Oil & Gas NL. The
move is part of a redirection that DVM announced in December 2007.
The latest deal will result in DVM earning varying interests in Petroleum
Exploration Permits EP-439, EP-5 and EP-6, all of which are located in the
onshore Carnarvon Basin of Western Australia, by contributing to an agreed work
program. Its participation will involve the drill ing of two onshore oil and gas
exploration wells, which are anticipated to commence drilling back-to-back in
April and May 2008.
DVM will contribute 40% of the costs of drilling the Star Finch 1 exploration well
to earn a 20% interest in EP-5. The Star Finch structure is a compressional
anticline feature, the main objectives being porous Birdrong Sandstone sealed by
the regionally extensive marine shales of the Muderong Shale. Seismic lines over
the anticline exhibit bright amplitudes at the Birdrong Sandstone, Windalia
Radiolarite and lower Gearle Siltstone Reservoir units. These amplitudes die out
at about the spil l point of the structure. Similar seismic anomaly events are present
over the nearby Tubridgi Gasfield and at some offshore gasfields located within
the Carnarvon Basin. The Star Finch structure has the potential for an estimated 50
billion cubic feet of gas, if gas is present and the structure is filled to spill point.
DVM will also contribute 20% of the costs of dril ling the Lak