Magnolia-1 is located in the offshore Timor Sea region, approximately 19 kilometers northeast of the Montara oil field and 28 kilometers southeast of the Skua oil field. Magnolia-1 has a planned total depth of 3,240 meters.
Participants in AC/P 32 are Coogee Resources as the operator of Magnolia-1 with 20%; AWE Timor Sea Pty Ltd ("AWE") with 10.0%; OPIC Australia Pty Ltd with 25.0%; Norwest Energy NL as permit operator with 19.6%; Adelphi Energy Limited with 15.0%; and Bounty Oil and Gas NL with 10.4%.
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