The Lauda prospect comprises an interpreted structural closure of Barrow Group sandstones sealed against the northerly trending Minden Fault. The previously drilled well Minden-1, located 600 meters to the southeast, is interpreted to have been drilled on the downthrown side of this fault, missing the structural closure. Good oil shows recorded in Minden-1 are encouraging for the migration of oil into this area, and Lauda-1 will evaluate the oil potential of the structure updip of the Minden-1 well. If successful Lauda-1 has the potential to contain up to 50 mmbbls of oil.
WA-290-P Joint Venture Participants are OMV as operator with 50%; Nippon Oil with 25% and Tap Oil with 25%.
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