Plans Firm Up for Perth Basin Drilling



Bounty Oil & Gas announces that a Letter of Intent has been issued to contract the Encso 56 jackup to drill up to three exploration wells in offshore Perth Basin permits WA-325-P and WA-327-P later this year.

The Letter of Intent, issued by permit operator Roc Oil on behalf of the WA-325-P and WA-327-P Joint Ventures, is designed to secure the rig for one firm and two contingent wells in an exploration program scheduled to commence in October.

The drilling campaign follows a substantive technical program undertaken in both permits since their award in 2002. The Joint Ventures have acquired over 3000 km of 2D seismic, 660 sq km of 3D seismic and over 32,000 line kilometers of aeromagnetic data.

Interpretation of the 3D seismic is being finalized and later this month the Joint Ventures will decide on drilling priorities and whether to convert one of the optional well slots to a firm status.

Bounty Managing Director, Tom Fontaine, said the drilling will be the culmination of the major exploration program the Joint Ventures have undertaken in the area. “We believe these wells have a high chance of success – it’s a region with proven oil accumulations and we will be drilling on state of the art 3D seismic data”.

Partners in WA-325-P and WA-327-P are:

Bounty Oil & Gas NL 10% (earning)
Roc Oil (WA) Pty Ltd 37.5% (Operator)
Apache Northwest Pty Ltd 37.5%
Voyager (PB) Limited 10%
Wandoo Petroleum Pty Ltd 5%

RELATED COMPANIES
Company: Apache Corp. more info
Operates 3 Offshore Rigs
 - Ancala Acquires Apache's Two North Sea Gas Pipeline Assets (Nov 20)
 - Apache Raises North America Output Forecast, Swings To Profit (May 04)
 - Oil Producer Apache Posts Smaller-Than-Expected Loss (Nov 03)
Company: ENSCO International Incorporated more info
Manages 64 Offshore Rigs
 - Ensco Acquires Atwood Oceanics, Lays Off Staff (Oct 10)
 - Lamprell to Compensate Ensco for Delay in Delivery of ENSCO 140 (Aug 29)
 - Lamprell Delays Delivery of Jackup to Mid-August Due to Technical Issue (Jul 27)
Company: Roc Oil more info
 - Santos Names Roc Oil CEO Anthony Neilson as CFO to Replace Andrew Seaton (Sep 19)
 - SapuraKencana Clinches $72M of Work in Malaysia, India & Cote d'Ivoire (Dec 08)
 - Faroe Completes Roc Oil Acquisition (Nov 06)
Company: Bounty Oil & Gas more info
 - Advent Pushes Ahead with Seismic Campaign in PEP 11 in Sydney Basin (Jul 19)
 - Australia's Bounty Closes Deal with Bridgeport for Surat Basin Assets (Jun 13)
 - MEC Updates on PEP11 Planned Seismic Program in Offshore Sydney Basin (May 19)
Company: Voyager Energy Limited more info
 - Voyager Adds Member to BOD (Nov 18)
 - Niko Completes Acquisition of Voyager Energy (Mar 26)
 - Niko Enters into Acquisition of Voyager Energy (Feb 08)
Company: Wandoo Petroleum more info
 - Empyrean: Gas Zone Drilled in Project Margarita Well (Jun 21)
 - Empyrean: Record Rains, Flooding Delay Shallow Drilling at Margarita (Jun 05)
 - BassGas JV Welcomes Arbitrator's Decision on Clough Dispute (Jun 04)