Real Energy Spuds Queenscliff-1 Well in ATP 927P in Cooper Basin

Cooper Basin focused oil & gas exploration company Real Energy Corporation Limited (Real Energy) reported Thursday that drilling has commenced on its second well, Queenscliff-1 in ATP 927P in Queensland, Australia. The well was spudded at 5.30 am (AEDT) Oct. 9 and as at 7.00 am (AEDT) was drilling ahead in 12.25 inch hole at 114 feet (35 meters). The planned total depth is 10,213 feet (3,113 meters).

The Queenscliff-1 well is Real Energy’s second exploration well in the Cooper Basin, aimed at confirming the presence of basin centered gas play in the Toolachee and Patchawarra formations and determining reservoir productivity. A secondary objective of this well is to obtain samples from the Toolebuc Shale to further our knowledge of this potential shale oil play. The well is expected to take approximately two and a half weeks to drill and complete from spud date. ATP 927P is surrounded by proven and producing gas and oil fields operated by Santos, and gas production is being used to feed growing demand for east coast gas.

Queenscliff-1 is located 8 miles (12.85 kilometers) west of Tamarama-1 and 10.5 miles (17 kilometers) east-northeast of the Whanto-1 gas field. Real Energy's acreage is prospective for basin centred gas (BCG), conventional oil and shale oil and gas. Queenscliff-1 will test the presence gas saturated Permian Toolachee and Patchawarra formations in an area located significantly downdip from the successful Tamarama-1 well and would advance Real Energy’s theory on the presence of BCG within ATP927P. An Independent Geologist’s report prepared for Real Energy (which was including in Real Energy’s prospectus) estimated that the Permian section in ATP927P and ATP917P contains a mean gross estimated petroleum initially-in-place of 10.2 trillion cubic feet of gas.


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