Australia's Exoma Energy and Chinese state-owned company CNOOC continue to progress their oil and gas exploration campaign as the Galilee JV--the formal name used for Exoma and CNOOC's joint venture--starts mobilizing the EDA #1 rig to the Katherine West-1 well site on ATP 999P, Exoma's CEO Rob Cook told Rigzone in a telephone interview on Tuesday.
Katherine West-1, sited onshore in central Queensland, will be spud on Saturday, Cook said. The well will be drilled to a target depth of 3,904 feet (1,190 meters), with the Hutton sandstone at 3,717 feet (1,133 meters) as its primary target and the Adori sandstone at 3,445 feet (1,050 meters) as its secondary target, Cook added.
"Katherine West-1 could be drilled for seven days before it reaches the top of the Adori. Coring and testing will require an additional seven days," Cook remarked.
The EDA #1 rig was earlier used to drill the Sancho-1 well, Exoma said in a statement on Tuesday. Sancho-1 is also located on ATP 999P.
Sancho-1 was drilled to 4,154 feet (1,266 meters) and it encountered a 85 feet (26 meter) section of the Toolebuc Shale formation, which was similar to Exoma's pre-drill estimates, Cook said. The well's secondary targets, the Hutton sandstone and the Adori sandstone, are not present, Cook said.
Exoma has a 50-percent interest in five large exploration permits in the Galilee Basin: ATP 991P, ATP 996P, ATP 999P, ATP 1005P and ATP 1008P. These permits cover an area of approximately 10.425 square miles (27,000 square kilometers) of the Eromanga and Galilee Basins. CNOOC, under the entity, CNOOC Galilee Gas Company, is earning its 50 percent stake in five of the Galilee Basin permits by providing the initial $51 million of joint venture expenditures.
There was considerable conventional oil exploration during the 1970s and 1980s in the western part of Exoma's permit area – particularly in the area now covered by ATP 999P. This exploration effort produced a number of oil shows and minor discoveries.
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