Drilling Commences at Etty-1 Well in ATP 855 in the Cooper-Eromanga Basin

Icon Energy Limited, an oil and gas exploration company, reported Tuesday that the Etty-1 well in ATP 855 in the Cooper-Eromanga Basin in Queensland, Australia has been spud at 04:30 hours Sunday, Feb. 9.

Etty-1, a vertical exploration well in ATP 855, will be drilled by the Ensign 965 rig to an expected depth of 12,467 feet (3,800 meters) to further evaluate the basin-centred gas play in the Queensland portion of the Nappamerri Trough.

The Etty-1 vertical exploration well will be:

  • Located 5.3 miles (8.6 kilometers) east of Halifax-1
  • Specifically targeting the basin-centred gas potential of the Permian Formations, from top Toolachee to top Patchawarra Formation
  • Cased and suspended for fracture stimulation and production testing to assess deliverability of the basin-centred gas play

Etty-1 is the sixth well in ATP 855 following on from Halifax-1, Hervey-1, Keppel-1, Geoffrey-1 and Redland-1, all of which confirmed the continuation of the basin-centred gas play in the Nappamerri Trough in Queensland. Notices of Petroleum Discovery have already been lodged with the Department of Natural Resources and Mines (DNRM) for Halifax-1, Keppel-1 and Redland-1.

The 2014 work program will include hydraulic stimulation and extended well testing commencing in the third quarter of 2014. This will involve optimization of the hydraulic stimulation program which will focus on specific horizons in each well across the permit, subject to joint venture approval.

During the drilling of Etty-1 we will provide meaningful and timely announcements on the progress of the well which will be published on Icon’s website.

Icon is of the opinion that the Nappamerri Trough has the potential to be a world class shale and basin-centred gas province.

Joint Venture Interests in ATP 855

  • Icon Energy Limited: 35.1 percent
  • Beach Energy Limited: 46.9 percent (Operator)
  • Chevron Australia Exploration 1 Pty Ltd: 18 percent


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