Key Petroleum announced Tuesday that no commercial hydrocarbons flowed to surface following testing operations at the Dunnart-2 well, onshore Australia.
As a result the well, located within the EP437 license in the Perth Basin, has been decommissioned and the rig used at the project has been released. Key Petroleum is the operator of EP437 with a 43.47 percent interest. Joint venture partners Rey Resources and Caracal Exploration hold 43.47 percent and 13.06 percent interests, respectively.
In a company release, Key Petroleum stated that it "considers EP437 as prospective and continues to discuss options for drilling additional wells including the Conder South and Wye Knot prospects".
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