Australia

Operations

Produced 7,812 b/d of oil in 2009 from 18 producing wells (18 net)
Reserve life index of 7.6 years based on proved plus probable reserves
Entered Australia in 2005, acquiring 4,800 b/d of oil, a 60% working interest and operatorship of the offshore Wandoo field located on Australia's northwest shelf.
Vermilion increased the fluid handling capacity on the platform from 114,000 b/d to about 150,000 b/d. The Wandoo field is driven by a strong aquifer and each of the original wells on average produce approximately 10,000 b/d of fluids with a 5% oil content. By increasing the fluid handling capacity of the platform, we were able to increase oil production as well.
In 2007 Vermilion acquired the remaining 40% interest in the Wandoo Field
Believing the aquifer had ‘pushed' the oil column vertically upward in the reservoir, Vermilion drilled two infill horizontal development wells in late 2008 to capture this ‘attic' oil. Each of these wells was brought on production at 1,000 b/d of oil and no associated water production.
Further reservoir modelling proved up the pressure of significant by-passed pay at the flanks of the reservoir and also in between the existing wells.
Three multi-lateral wells will be drilled mid-2010 to recover some areas of this by-passed pay. Several additional targets exist which should enable Vermilion to stablize Wandoo field production for several years.

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