Key Petroleum Progresses Drilling Preparations for Dunnart-2 Well in WA

Key Petroleum reported Tuesday that further to its announcement April 17, Key Petroleum (Australia) Pty Ltd. (Key or Company), a wholly owned subsidiary of Key Petroleum Limited and Operator, provided an update in relation to planned testing operations at Dunnart-2 in Exploration Permit EP437, Perth Basin, Western Australia.

All required approvals have now been granted by the Department of Mines and Petroleum to the Operator to undertake completion and testing operations at Dunnart-2 and all long lead items including pup joints and tubulars, wellhead equipment including, xmas tree, tubing hanger, gauges and valves are in Perth ready to be mobilized to the Dunnart-2 location.

DCA Rig #6 is currently in the DCA yard in Perth and Key personnel will inspect the rig later this week before mobilizing the rig to the Dunnart-2 location at some stage during the next three weeks. Camp facilities have been setup and completed south of Dongara at Key’s operations base and onsite office and generator power facilities will shortly be mobilized from the operations base.

Key is also in discussions with two other oilfield rig contractors regarding a larger campaign in the Perth Basin and assessing whether any of their rigs could be utilized to undertake any workover activities (re-complete for production) in each of West Kora-1 (Production Licence L15) and Stokes Bay-1 (Retention Lease R1) in the Canning Basin.

The Company will update the market shortly on commencement of operations.

Joint Venture participants in EP437 are:

  • Key Petroleum Limited (Key Petroleum (Australia) Pty Ltd) (Operator) - 43.47 percent
  • Rey Resources Limited (Rey Oil and Gas Perth Pty Ltd) - 43.47 percent
  • Caracal Exploration Pty Limited - 13.06 percent


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