Preliminary interpretation of drilling, wireline and pressure data indicates that the well intersected gas saturated sand over a gross interval of 31 meters within which there are 28 meters of net gas reservoir. The gas accumulation is at the top of the objective Permian section, interpreted as being equivalent to the Dongara Sandstone and possibly the upper Irwin River Coal Measures. Reservoir quality appears to be poor to moderate.
The Perseverance discovery is located in WA-325-P in the offshore Perth Basin, approximately 33 km west of Geraldton. The structure has a maximum vertical relief of approximately 80 meters and is apparently gas-filled. Initial calculations for the accumulation suggest in-place gas in the range of 20 - 50 BCF.
The forward program for Premium Drillng's "Wilcraft" rig is to start drilling the final well in the three well program, Dunsborough-1 in WA-286-P, approximately 50 km southeast of Perseverance-1 and 25 km northwest of Frankland-1, later this week.
Participating Interests in WA-325-P are Roc Oil as operator with 37.5%; Apache Northwest Pty Ltd with 37.5%; ARC with 20%; Wandoo Petroleum with 5%.
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