The wellhead pressure is continuing to build and more wireline work will be undertaken shortly to establish any change in fluid level and to take a larger oil sample for more detailed analysis.
Further tests are now planned over the next few weeks to establish the production potential of the well, and to aid in the estimation of reserves.
The Centella 1 well is located 6.5 kilometers east of the Hovea Production Facility and 1.3 kilometers northwest of the Mondarra Gasfield. Participants in L1 and L2 (excluding the Dongara, Mondarra and Yardarino fields) are:
Managing Directors comments:
"This is the fifth exploration well to be drilled in the 3D seismic grid, the fifth to establish the presence of hydrocarbons and the fourth to be productive. Although it will be necessary to wait for the results of further production tests for estimates of the potential long term flow rates and reserves volume, early indications are that the field is of commercial size, and we will be moving to develop it as soon as practicable.
It is very encouraging to find oil at Centella, as the location was interpreted to be in the gas prone portion of the license. This discovery has the potential to now open up additional targets in the area that may also contain oil."
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