Planet Gas Updates on Drilling at Hathi-1 Well in SA Cooper Basin's PEL 514

Australia's Planet Gas Limited provided Wednesday the following update to the Hathi-1 exploration well located within PEL 514 in the South Australian Cooper Basin.

Hathi-1 Exploration Well

  • Spud Date: Sept. 13
  • Planned Total Depth: 8,300 feet (2,530 meters) subsea
  • Current Depth: Total depth of 8,425 feet (2,568 meters) measured depth below rotary table (MDRT) reached at 0015 hours Sept. 24
  • Operations: Preparation for running wireline logs
  • Participating Interest: Senex Energy Limited 80 percent (Operator); Planet Gas 20 percent (free carried)

About Hathi-1

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 was planned to a total depth of approximately 7,710 feet or 2,530 meters (subsea) to test the oil potential of the Tinchoo Formation with the Poolowanna and Birkhead Formations and the Hutton Sandstone as secondary targets.

The Hathi-1 well and the following Bagheera East-1 well form 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, is free carried by Senex.

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