The Keeley prospect is located on the western side of the Spencer High, approximately 11 km west-southwest of the Raven gas field, 5 km north-northwest of the Spencer West oil field and 8 km west-northwest of the Kiana oil field. Keeley-1 will test a combined Permian anticlinal closure and stratigraphic trap in the southern Patchawarra Trough in PEL 107. The Keeley prospect is considered prospective because of its similarities with the Raven gas field. The Keeley prospect is a robust closure and volumetric estimates put its best estimate prospective resource at approximately 10 bcf of gas. It has a high estimate prospective resource of approximately 29 bcf of gas if stratigraphic trapping is also involved.
The primary reservoir objectives in Keeley-1 are the Patchawarra Formation reservoirs, similar to those which produce gas at Raven and in which gas has been discovered in the recent Udacha-1 and Middleton-1 wells. The Keeley-1 well which is being operated by Beach Petroleum will take approximately 16 days to drill and evaluate and is planned to have a total depth of approximately 3023 meters.
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