Senex Energy to drill 2 wells in PEL 514 in South Australia's Cooper basin
Senex Energy to drill 2 wells in PEL 514 in South Australia's Cooper basin
SYDNEY, Australia -- The Directors of Planet Gas Limited (Planet Gas) reported the commencement of a two well drilling program within PEL 514 in the South Australian Cooper Basin.
Subject to final approvals, the program includes the drilling of two wells Hathi-1 and Bagheera East-1 back to back, with Hathi-1 scheduled for spudding on or about 9 September 2014.
Hathi-1 exploration well
The Hathi-1 vertical exploration well is located in the northwest of PEL 514 situated approximately 19 kms northeast of the Tarragon Oil Field.
The Hathi Prospect has been mapped as a four-way closure at multiple horizons using data from the recently recorded Dundinna 3D seismic survey.
The exploration well will be drilled to a total depth of approximately 2,530 m to test the oil potential of the Tinchoo Formation with the Poolowanna and Birkhead Formations and the Hutton Sandstone as secondary targets.
Bagheera East-1 exploration well
The Bagheera East-1 vertical exploration well is also located in the northwest of PEL 514 situated approximately 10 kms northeast of Hathi-1. The Telopea Field and the Keleary Field are located 13 kms and 10 kms respectively southeast of Bagheera East.
From the Dundinna 3D seismic survey analysis, the Bagheera East prospect is a structural trap mapped as a four-way dip closure.
The exploration well will be drilled to a total depth of approximately 2,510 m to test the oil potential of the Tinchoo Formation with the Poolowanna and Birkhead Formations and the Hutton Sandstone as secondary targets.
The drilling program forms part of a second farm-in agreement with Senex Energy Limited (Senex) of May 2013. Planet Gas holds a 20% project interest in PEL 514 while Senex holds an 80% interest and is the operator. The Planet Gas project interest, including the drilling and completion of Hathi-1 and Bagheera East-1, is free carried by Senex.
