Drilling to Commence on Morangie-1 Offshore Australia

The Sedco 702 is expected commence operations this week on the Morangie-1 well offshore Australia. The Morangie-1 well is located in the WA-226P permit. Dana Petroleum, former operator of Permit WA-226-P, estimates that the Morangie structure has the potential to contain up to 250 million barrels of oil in place. The target reservoir is the sandstones of the Wagina Formation below the Kockatea Shale regional seal, the same reservoir/seal relationship recorded in other Perth Basin oil and gas fields. Several large follow up prospects are also present in WA 226-P. These will be evaluated following the drilling of Morangie.

The WA-226P joint venture comprises: Norwest Energy NL with 7.50%; Origin Energy with 28.75%; Dana Petroleum PLC with 30.00%; Apache Northwest Pty Ltd with 28.75% and Voyager Energy Limited with 5.00%.

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