Cooper Energy Ltd. reported Tuesday that Bungaloo-1, the second of two deep wells targeting the Casterton Formation within the Penola Trough of the onshore Otway Basin, South Australia was spudded in PEL 494 at 12:30 April 19 by Ensign rig 916. At 06:00 today the well was at a depth of 2,024 feet (617 meters) in the Eumeralla Formation and running in hole with 13.375 inch casing in accordance with the drilling program.
Bungaloo-1 will, like the preceding well Jolly-1, have the primary objective of assessing the oil and gas potential of shales within the Casterton Formation. Bungaloo-1 is expected to be drilled to a total depth of 12,063 feet (3,677 meters) and collect over 328 feet (100 meters) of conventional core. The well will also assess the sands of the Lower Sawpit which were gas-bearing in Jolly-1. It is anticipated that Bungaloo-1 will intersect the Casterton Formation approximately 1,640 feet (500 meters) shallower than Jolly-1, which was drilled to a total depth of 13,208 feet (4,026 meters) in April 2014.
Bungaloo-1 is located in permit PEL 494, 8.67 miles (14 kilometers) north-west of Jolly-1.
The drilling and completion of Bungaloo-1 will conclude the current drilling program in the Otway Basin.
Participating interests in PEL 494 and PRL 32 are:
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