Planet Gas Limited (Planet Gas) announced Monday the commencement of drilling of exploration well Hathi-1 within PEL 514 in the South Australian Cooper Basin.
Hathi-1 Exploration Well
About Hathi-1 Exploration Well
The Hathi-1 vertical exploration well is located in the northwest of PEL 514 situated approximately 11.8 miles (19 kilometers) northeast of the Tarragon Oil Field.
The Hathi prospect has been mapped as a four-way closure at multiple horizons using data from the recently recorded Dundinna 3D seismic survey.
The exploration well will be drilled to a total depth of approximately 7,710 feet (2,530 meters) to test the oil potential of the Tinchoo Formation with the Poolowanna and Birkhead Formations and the Hutton Sandstone as secondary targets.
Bagheera East-1 Exploration Well
Following the completion of the Hathi-1 exploration well, the Bagheera East-1 well is planned to be drilled.
The vertical exploration well is also located in the northwest of PEL 514 situated approximately 6.2 miles (10 kilometers) northeast of Hathi-1. The Telopea Field and the Keleary Field are located 8 miles (13 kilometers) and 6.2 miles (10 kilometers) respectively southeast of Bagheera East.
From the Dundinna 3D seismic survey analysis, the Bagheera East prospect is a structural trap mapped as a four-way dip closure.
The exploration well will be drilled to a total depth of approximately 8,234 feet (2,510 meters) to test the oil potential of the Tinchoo Formation with the Poolowanna and Birkhead Formations and the Hutton Sandstone as secondary targets.
The drilling program forms part of a second farm-in agreement with Senex Energy Limited (Senex) of May 2013. Planet Gas holds a 20 percent project interest in PEL 514 while Senex holds an 80 percent interest and is the operator. The Planet Gas project interest, including the drilling and completion of Hathi-1 and Bagheera East-1, is free carried by Senex.
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