Key Finds Gas and Methane Onshore Canning Basin with Cyrene-1 Well

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Key Petroleum announced Thursday that the Cyrene-1 well, sited in EP 438, Canning Basin, onshore Western Australia has reached a depth of 2,027 feet (618 meters) with 0.02 units of background gas and 160 parts per million of methane established.

Drilling is currently continuing through the Grant Formation.

EP 438 participants after the drilling of Cyrene-1 are: Buru Energy (37.5%), Mitsubishi Corporation (37.5%), Key Petroleum (20.0%) and Indigo Oil (5%).

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