Santos reports that Mittwell Energy Resources Pty Ltd, already a joint venture partner in the $200 million Casino gas development, has now taken a 25% equity interest in the VIC/P51 exploration permit area.
Mittwell will jointly participate with Santos and existing partner INPEX ALPHA LTD., a subsidiary of INPEX CORPORATION, in a new exploration program in the VIC/P51 permit area, which is in offshore Victoria, in the Otway Basin.
This includes drilling the Callister 1 exploration well, which spudded on October 13th 2004, and is being drilled in VIC/P51 by Transocean's semisub, Jack Bates.
The Jack Bates arrived on location at the site of the Callister 1 well earlier this week, after a 7-week voyage from Norway.
The Mittwell farm-in agreement is subject to approval by relevant authorities.
The VIC/P51 permit covers an area of over 2600 square kilometers. It lies adjacent to the Casino gas development in VIC/P44 and the deepwater exploration permit VIC/P52.
The VIC/P52 permit is the location for Santos' frontier exploration well, Amrit 1, which will be drilled immediately following the Callister 1 well.
"We are pleased to welcome Mittwell as a partner in a portion of our Otway Basin exploration program," Santos' Managing Director, Mr. John Ellice-Flint, said. New interest holders in the VIC/P51 exploration permit are Santos with 55%; Mittwell Energy with 25% and Inpex Alpha Ltd with 20%.
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