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
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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