Senex Finds Oil at Martlet North-1 Well in South Australian Cooper Basin

Senex Energy Limited disclosed Tuesday a Namur oil discovery at Martlet North-1 on the western flank of the South Australian Cooper Basin.

The Martlet North-1 exploration well (PRL 1481: Senex 60 percent and operator, Beach Energy 40 percent) was spud Jan. 29 and was designed to evaluate the oil potential of the Namur Sandstone, with a secondary target in the Birkhead Formation.

The well encountered oil shows in the target reservoir and subsequent evaluation of logs indicate vertical net pay of 10.5 feet (3.2 meters). In addition, the well encountered oil shows in the Birkhead Formation. The well is located approximately 0.68 miles (1.1 kilometers) north-west of Martlet-1 which is producing from the Namur horizon.

The well has been cased and suspended as a future Namur oil producer. The timing of a tie-in to the Martlet-1 infrastructure will be subject to field development planning over both fields to achieve the most economical development scenario.


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