This drilling data is currently being interpreted to determine the significance of the discovery and the possibility for an improved column height along the strike of the structure.
A side track well, Lauda-2, is currently under way to the east of Lauda-1 targeting a mapped closure on the down-thrown side of the same fault.
A possible further sidetrack along strike of the accumulation discovered in Lauda-1 is also under consideration following the Lauda-2 well.
Current operations comprise of analyzing the data from the Lauda-1 well and the drilling of the Lauda-2 sidetrack well. It is anticipated that the Lauda -2 well will reach total depth within the next few days.
The recovery of light oil at Lauda-1 on the up-thrown side of the fault is encouraging at this stage. Whilst the well has intersected only a small oil column, interpretation of the well and seismic data is proceeding to determine if there is further potential along strike on the Lauda structure.
The results of the Lauda -2 well will be important to assess the commerciality of this discovery. Once this work is completed, a decision will be made whether it is warranted to carry out further appraisal on the discovery while the Sedco 703 is on location.
The Lauda-1 well is located in WA-290-P, approximately 70 kilometers west of Barrow Island and 27 kilometers west northwest of the Woollybutt Oil Field
WA-290-P Joint Venture participants are OMV as operator with 50%; Tap with 25% and Nippon Oil with 25%.
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