Hardman's Marloo-1 Well a Duster

The Marloo-1 well reached Total Depth of 2,041 meters and wireline logging has confirmed the absence of hydrocarbons in the objectives. The well is being plugged and abandoned. The well was scheduled to take 14 days and cost $5 million but is anticipated to be completed in 9 days and $1.5 million ahead of budget.

Marloo-1 was drilled by Diamond Offshore's semisub, Ocean Bounty, in Exploration Permit AC/P26 in the Timor Sea some 660 kilometers west of Darwin and 52 kilometers southeast of the Challis Field. Water depth at the well location is 95 meters and the planned total depth was 2,039 meters.

The Marloo-1 well has tested a Late Jurassic structural/stratigraphic trap. The main targets were the Lower Vulcan Formation and the Montara Sandstones. Geologically the well came in on prognosis, however, no hydrocarbon shows were recorded while drilling and the wireline logs confirmed the absence of hydrocarbons in the objectives.

Hardman Oil and Gas holds a 100% interest in the well and Lonman Pty Ltd has a 1.25% Carried to Production Interest.

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