Australia's energy explorer Planet Gas Limited announced Tuesday that drilling has commenced at the Pirraminta-2 exploration well located within PEL 514 in the South Australian Cooper Basin.
Pirraminta-2 Eexploration Well
The Pirraminta-2 exploration well, will be located in the south western section of PEL514 and will be situated on a portion of the Gidgealpa-Merrimelia-Innaminka Ridge approximately 37 miles (60 kilometers) north northeast of Moomba.
The primary objective of the well is the oil potential of the Murta Formation which is productive in the Merrimelia oil field approximately 12 miles (20 kilometers) to the southwest.
The Pirraminta-2 well is located on a large 4-way dip closure and will be drilled to a total depth of 5,709 feet (1,740 meters), with 59 feet (18 meters) of core to be cut through the Murta Formation to evaluate the reservoir potential.
Planet Gas holds a 20 percent project interest in PEL 514 while Senex Energy Limited (Senex), holds an 80 percent interest and is the operator.
The Pirraminta-2 well forms part of the initial farm-in agreement with Senex of December 2011. As part of that agreement Senex is required to drill two wells by end November 2013 with Pirraminta-2 being the second of the two well program. Planet Gas is free carried for the program.
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