Senex Prepares to Drill Bagheera East-1 Well in PEL 514 in SA Cooper Basin

Planet Gas Limited provided Friday the following update on 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: Wireline logs complete, trace hydrocarbons, preparation for plug and abandon
  • Participating Interest: Senex Energy Limited 80 percent (Operator); Planet Gas 20 percent (free carried)

Forward Program

The EDA #4 rig will now move for the drilling of the Bagheera East-1 well.

The vertical exploration well is 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 Hathi-1 and the Bagheera East-1 wells 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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