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Planet Gas Updates on Sprigg-1 Exploration Well in PEL 514 in Cooper Basin

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Australia's energy explorer Planet Gas Limited provided an update Monday on the Sprigg-1 exploration well located within PEL 514 in the South Australian Cooper Basin.

Sprigg-1 Exploration Well

  • Total Depth: 8,110 feet, or 2,472 meters (reached Oct. 20, 2013)
  • Status: 7 inch casing and wellhead installed
  • Operations: Cased hole testing over four zones commencing on or about April 9
  • Participating Interests: Senex Energy Limited 80 percent (Operator), Planet Gas 20 percent (free carried)

In October 2013, the Ensign Rig 754 successfully intersected 20.7 feet (6.3 meters) interpreted net pay in the Murta Formation with hydrocarbon shows and fluorescence in the Hutton Sandstone, Tinchoo Formation and the Paning member.

Commencing on or about April 9, a four zone selective completion will be carried out within the Murta and Tinchoo Formations and also in the Hutton Sandstone and Paning member. Swabbing operations are then planned to be carried out over each zone.

About Sprigg-1

The Sprigg-1 prospect is located in the central eastern sector of PEL 514 and is 2.8 miles (4.5 kilometers) west of Acrasia oil field.

The exploration was is located 787 feet (240 meters) west south west of the Reg Sprigg North-1 well.

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 Sprigg-1 well forms part of the initial farm-in agreement and second agreement with Senex. Planet Gas is free carried for the program.

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